Sony's 'exciting plans' for the PSP in Europe involve giving everyone but the UK a price cut, it would seem.

The handheld console has had its price slashed in countries across Europe using the Euro, but the UK's price tag remains the same as it ever was.

Euro-spending countries can now pick up the PSP for €129.99 (around £114), a €50 saving on its previous price.

Yes we have no bargains

The UK, however, can still get the PSP for its previous price of £129.99, and Sony says a cut is not coming our way.

A statement from the company reads, "[The European price cut] has been made possible by favourable fluctuations in the exchange rate between the Euro and the Yen. Since we in the UK are vulnerable to two exchange rate calculations, pounds into Euros and Euros into Yen, we are not in a position to offer a similar cut in PSP for the UK."

Update: Sounds tenuous, but it's true: Sony Computer Entertainment UK explains: "We (SCE UK) buy stock from Europe, so that's £ - €, which is the first exchange, and Europe buy stock from Japan in Yen, so € - Yen... therefore, we're susceptible to exchange rate fluctuations on both currencies."

The European price cut comes several weeks after North America enjoyed a similar bargain renaissance.

We didn't tell you this, but you can pick up certain handheld games consoles for a song on a certain online auction sites nudge-nudge-wink-wink.

Or you can just give up on the PSP altogether and hold out for the Sony NGP, the next generation portable coming from Sony at some point later this year.

From The Telegraph