Those hoping to bag a bargain PlayStation 3 when the PS4 rolls into town later this year are in for some disappointment – Sony says no such plans are on the horizon.

The PS4 has already delighted fans with its price tag of £349 ($399 in the US), making it a fair chunk cheaper than the Xbox One. But it seems that Sony can't afford to cut the cost of its predecessor just yet.

"There's no plans as yet," Sony British boss Fergal Gara told GamesIndustry.biz. "The PlayStation 3 is a system where it hasn't been particularly easy to get the costs down."

The PS3 currently starts at £140 for the lowest-end 12GB Slim model, with the US looking at around $260 for 250GB Slim.

Still kicking

As for those who already own Sony's current-gen console, the good news is that Gara said there's plenty of life in its blood to keep it ticking alongside the PS4.

"It will sit there as a viable entry-level machine for years to come," he said, adding that while the lifespan will vary by territory, "there's still a lot of love" for the console.

Always remember that plans change and we could still see a price slash soon after the PS4 arrives, as these things so often go.