Analyst: 'PS3 price cut unlikely this year'

Gamers waiting for a further price reduction of the PlayStation 3 could be left disappointed this year, if analyst Lazard Capital Markets' predictions are correct.

Sony recently predicted it will sell eight million PS3 consoles worldwide in 2008, which is an 8% rise over the previous year. According to the analyst, the company is now more concerned with making the PS3 profitable and rolling out online services than chasing market share against rivals Nintendo and Microsoft by cutting its retail price.

"Console market share appears to be less of a priority; price cut less likely," Colin Sebastian of Lazard Capital Markets told Eurogamer.

"On its earnings call, Sony management indicated the company is now more focused on achieving profitability in the PlayStation segment... Importantly, management comments also suggest that a price cut is less likely on the PS3 this year, at least in the near term."