Sony's CEO smashes hopes that Sony would lower the price of the Sony PS3 console in time for the Holidays. Kazuo Hirai told the Financial Times that the current PS3 pricing is the one that Sony will go into the Holiday shopping season.
Sony is arguing that the Sony PS3 is a better value than rivals half its price.

We already reported last week that besides consumers also industry analysts would like to see a price drop amidst the much lower pricing of the Xbox 360 and the economic uncertainties.
I agree that there is a lot of value inside a PS3. You get a Blu-ray player and hard drive along with great media features and video games. In the end it is more a question of if the Xbox 360 or the Wii deliver equal fun for much less money if you just look at game play.
More details on the Financial Times.

The new 80GB Sony PS3 sells for $399.99 on Amazon.com.