No price cut for PS3 planned

Sony Excutive says console manufacturer has no plans for a price cut for the PS3

Sony Computer Entertainment UK managing director Fergal Gara says there's no planned price drop for the PS3 console

There's no planned price cut for the PlayStation 3, even though the next-generation PS4 is homing into view on the horizon.

According to Sony Computer Entertainment UK managing director Fergal Gara, it hasn't been "particularly easy to get the costs down" for the console.

"We continue to look at opportunities, there may or may not be any more, I genuinely can't answer to that," said Gera. "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," he added.

It has to be said that Gera's sentiments ring true when one considers the 2013 line up for the PS3.

Aside from releasing the critically acclaimed survival horror game, The Last Of Us, this month, Sony is planning to release both David Cage's moody thriller, Beyond: Two Souls and the latest iteration of the PS3's racing sim, Gran Turismo 6, before the end of this year.

Sony says it plans to release the nex-gen PS4 console in both the US and Europe before the end of 2013. The new console will cost £349 in the UK and $399 in the US.