The console war is full of very tough battles, waged on a variety of fronts, and won based on the sales figures that appear every month. Although the battles are pretty tense, over the last period, the winner almost every time was Nintendo, with its Wii console, but, as reports have shown, Microsoft's Xbox 360 isn't doing so bad either.

Due to the low prices of these consoles, coupled with the fact that the recession is taking its toll on what people will spend their money on, has made these two consoles very attractive in the eyes of the customers. But Sony is still hoping that a lot of people will make the right choice and that its PlayStation 3 will pick up in sales.

David Reeves, the president of Sony Computer Entertainment Europe, reinforced this statement, and said that the public wouldn't see any price cuts anytime soon for the PS3. He went on to say that even though a smaller price would be a pretty attractive move for customers, his company was determined to lure in people with the features of its console.

“No, we are not going to go down in price on PS3 – neither are we going to go down in price on PS3 in spring time either,” said Reeves. “Absolutely not, whatever you might have heard to the contrary. Our strategy is very much value added. That doesn’t mean we are going to add pieces of software – we might add original ideas to the machine. What we want is to make the machine value for money.”

Even though Sony's move is the right one, without a doubt, the PlayStation 3 could use a price cut in order to gain an advantage on the Xbox 360 and the Wii. Although Reeves stated that we wouldn't get to see a price cut before summer 2009, perhaps he is hinting at a move after that period. But, until then, it seems that the PS3 will still be the most expensive console out there.