Sony has no plans for a price cut for the PlayStation 3, an executive of the company has revealed.
Despite the announcement of the PlayStation 4, which is slated to launch at the end of the year, the PlayStation 3 will not be getting a reduction in price any time soon.
"There's no plans as yet," said Fergal Gara in an interview with GamesIndustry.biz. "The PlayStation 3 is a system where it hasn't been particularly easy to get the costs down.
"We continue to look at opportunities, there may or may not be any more, I genuinely can't answer to that," he added.
"But it will certainly be a more keenly priced machine in relative to PlayStation 4. It will sit there as a viable entry level machine for years to come. It will be different by territory as to how long its life is. There's still a lot of love for PS3."
The PlayStation 4 is slated to launch with a host of first- and third-party titles, including Watch Dogs, Battlefield 4, Assassin's Creed 4, Knack, and Killzone: Shadow Fall.