A recent interview with Sony Europe's president, David Reeves, has shed some light on what the company has been up to. It's no surprise that they are doing poor financially, at least in the games division, with PlayStation 3 sales slipping and their competitors still enjoying wide margins of success over them. Admitting that sales have been lackluster, Reeves mentioned that a price cut was not in the works, as they would rather not suffer more losses to widen their customer base. This is despite the fact that he admits in the current economy, people are often more attracted to price rather than feature richness.

So if a price break isn't in the near future, what is? Hardware improvements might be, with the Sony executive hinting that a console based on a 45nm cell could appear by the middle of this year. Reeves also has high hopes for the PlayStation Network, which now boasts 17.5 million users, and said they will continue pushing the PS3 as a multimedia device rather than just a gaming console.