The media is eagerly waiting for Sony to announce price reductions for the PlayStation 3 console, mostly due to the sales figures. PS3 has stuck to the third place in "next-gen" cosole sales, aftet Nintendo's Wii and Microsoft's Xbox. It has been speculated that the slower than expected sales are due to the combination of high price and lack of software titles. Sony claims that they have seen it all before with PS2 and evetually they succeeded in selling a whopping 120 million consoles. However, when PS2 emerged the console market was virtually 'empty' without any serious competitors (sorry for not counting Dream Cast as a serious competitor).

The PS3, with a 60GB hard drive, carries a price tag of $599 in the United States, while the Wii sells for about $250.

"If you take a look at how PlayStation and PlayStation 2 have taken off, this is not such an unusual start," Chubachi said.

When the PS2 made its debut in 2000, Sony was initially criticized for lack of strong titles, and some software publishers said the machine was too complex to develop for.

Sony eventually overcame those difficulties and has sold more than 120 million PS2 units, making it the top-selling video game console ever.

Source: ZDNet