Sony ready for economic fight

Sony Computer Entertainment Europe (SCEE) has said that it will be there and fighting during the tough economic times ahead.

SCEE boss David Reeves admitted to The Guardian that the company has recently suffered "a little", including going down in "market share and mind-share".

However, he added: "We're still standing, we're still profitable and there's a lot of fight in us. I don't say we will land a knockout blow, but we're there and we're fighting."

The PS3 is still the most expensive next-generation console on the market and Sony has recently resisted announcing price cuts to keep pace with its competitors.

Reeves accepted that "more people will go for the lower price" option during the credit crunch, but added that the SCEE business still makes a profit.

He explained that a price cut to the PS3 before Christmas would have led to a "huge loss" after the holiday season, which could have caused Sony to re-consider its position in the console market.