No PS3 price cut any time soon

Posted by Raven Lovecraft

While everyone is talking about the Wii U and Xbox 720, Sony is perfectly happy with where the PS3 is right now.

In an interview with EuroGamer, Sony Worldwide Studios president Shuhei Yoshida said the PS3 is "in prime time."

No PS3 price cut any time soon

"It’s a great time for consumers to look at purchasing PS3 this year. There are a variety of games coming out and new and exciting games coming out next year," he explained.

Yoshida also said not to expect a price cut on the Playstation Vita any time soon.

Despite its very rocky start, the PS3 has actually managed to become as formidable a competitor in this console race as the Xbox 360.

And just like Sony promised, it is in its best spot right now, more than five years after it launched. That kind of staying power defies all conventional wisdom in the console market.

This is the new model for the business - go as big as you can, even if it means the console is expensive on launch day. Because of broadband connectivity and the ability to push out firmware updates, the shelf life of these systems is much longer, so you can take years to get your name on the market.

The PS3 is proof positive that this new model works, and the fact that it doesn't seem destined for a price cut and no one is seriously talking about its successor yet just goes to show how much the industry is changing.

That being said, when the PS4 does start hitting the mainstream conscience, there will be a lot to talk about. It's likely to support 4K resolution and based on third-party accounts, it will be leaps and bounds beyond the already significant strides made by the PS3.