Paying for PS3 potential

[PS3] Sony CEO defends price of new console

Monday 26 June 2006
Gamers will not mind paying a higher price for PlayStation 3 as they will be aware that they are paying for potential, according to Sony CEO Howard Stringer.

"Obviously, it's a higher risk strategy - as all new inventions are - but if PS3 lives up to its total potential then I don't think anyone will be worried about Nintendo or Xbox's cheaper price," Stringer told a Japanese press conference.

PS3 is likely to cost up to %26pound;425 when it is released in the UK in November, which is considerably more than the %26pound;150 price tag expected for Wii and the %26pound;280 needed to pick up an Xbox 360, but Sony remains confident that gamers will be prepared to pay the extra.

He then went on to ask the rhetorical question: "When you bring in new technology, do you go for a cheaper transitional product or do you take a chance on future-proof, higher technology which will keep you going for many, many years?" The answer for Sony is, of course, the latter, with Stringer taking the opportunity to have a pop at the 'transitional' Xbox 360.

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