E3 Brings Forth Price Cuts!

E3 isn't here quite yet, but talks of price cuts are already out, buzzing all over the net. When asked by Nomura Asia Euity forum, Nobuyuki Oneda (Sony CFO) denied such plans by Sony, by stating, "Our strategy is not to sell more quantity for PS3 but to concentrate on profitability."
Which indeed has helped Sony's gaming division by reducing loss in the last fiscal year by over $900Million, to $1.1Billion loss as opposed to $2.0Billion the previous year.

On the other hand, gaming's west coast representitive Microsoft decided to go south on its prices by cutting them on its Pro version of its console by $50. The rumors of $299 price tag has been going around the net for a few days now, but today we saw the first price cuts by Target stores. (Click here for Target site) It doesn't really come as a surprise though, since PlayStation 3 introduced its 40Gb model, sales have been neck-and-neck on both consoles.