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Games giant pleads for PS3 price cut

The PlayStation 3 has sold poorly in comparison to the Nintendo Wii and Microsoft's Xbox 360

SCi Entertainment, owners of Eidos Interactive which publishes games franchises like Tomb Raider and Hitman, says that the PlayStation 3 (PS3) needs a price cut to drive sales. Otherwise, says the company, it will not be profitable for studios to make games for the Sony console.

In the UK, the Sony PS3 still has a recommended retail price of £425 - the same as it was the day it launched on 23 March.

Hardware price cut needed

In the latest financial report, SCi CEO Jane Cavanagh said: "The Board continues to believe in the long-term commercial success of PlayStation 3 but believes this may take more time than originally forecast by Sony.

"The Board is of the opinion that the key driver to the acceleration of the installed base of PlayStation 3 will be a further hardware price cut.

"Until such time that such a price move is announced by Sony, the Board believes that it is prudent to increase our provision to £13.8m against the carrying value of certain capitalised development costs," she said.