Following lagging sales owed to its high price tag and scarce supply of exclusive titles, Chairman and chief executive of Sony, Sir Howard Stringer, in a recent interview with the Financial Times was quoted saying, "(Price cuts are) what we are studying at the moment. That's what we are trying to refine." He went on to say that he expected "energy (in PS3 sales) by Christmas, and then you will begin to see break-out games".
Stringer admitted rival console the Nintendo Wii which is outselling the PS3 was based on a good business model, not only because of its controller and good market strategy, but because of its affordable price point, adding there was "no question" consumers wanted a lower price. Sony's CEO didn't comment when this price drop will happen or how much they will cut, but some think it will happen sometime during 4Q 2007.