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Here's Kazuo Hirai, president of Sony's video games division, in the WSJ:

"We're not looking to do that (cut prices) this year. It's not in our plans right now."

This sounds right to us. Sales of the PS2 -- a profitable console -- are finally slowing down (-7% y/y to 13.7 million units), and sales of the PS3 -- an unprofitable console -- are skyrocketing (156% y/y to 9.24 million). Of course, that's due in part to a price cut the company already made in its console price. But if it can keep growing at a triple-digit rate, it won't have to go into markdown mode for quite a while.