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Sony hoping to lower price of PS314 March 2011 15:35:09

The retail price of Sony's PS3 console could be cut at some point in the near future.

According to Sony Computer Entertainment Europe UK boss Ray Maguire, the company has had to price the PS3 higher than it would have liked due to the number of features included on the console.

However, speaking to OPM, Mr Maguire said he was hopeful the retail price could be lowered before long, as reported by computerandvideogames.com.

"It's been a challenge for us to get the costs down over the years. The retail price has been more than we would have liked ... Hopefully the price might still come down."

But he added that Sony did not regret incorporating so many features into the PS3 as this has increased its longevity.

"I did think we were taking a big risk in PS3 by making it so heavy-featured. As it turned out, I now think it was a stroke of genius, because it's given PS3 the ability to go on year after year," he said.

His comments come after recent reports suggesting that rivals Microsoft and Nintendo could both be preparing to release new versions of their respective Xbox 360 and Wii consoles this year.

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