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Read Sony's Lips: There's No PS3 Price Cut Coming

This story was written by Tameka Kee.
*Sony* has issued its strongest statement yet to the growing chorus of gamers, publishers and analysts calling for a price cut on the PS3: "We do not have plans for a PS3 price drop, and any rumors to that effect are false and are the result of speculation." That's the statement the company gave Joystiq today, in an effort to squash buzz that the price drop was coming tomorrow. It's a bit different from the standard "we don't comment on speculation" response, and even clearer than the "we're focused on long-term profitability" line that Sony (NYSE: SNE) has been using in every interview.

Sony has contacted a number of blogs like Kotaku in advance of a "major" announcement tomorrow, but clearly, the news won't be about a cheaper PS3. As we noted before, the company is stuck between a rock and a hard place with its PS3 pricing: it's being outsold two-to-one by both the Xbox 360 and the Wii, but if Sony slashes the price to compete, it will dig itself further into the hole with manufacturing costs.

Photo Credit: veroyama

By Tameka Kee