Ubisoft CEO says Sony PS3 needs price cut
Reeling from the worst quarterly loss in years, and the battery fiasco - Sony needs to "right the ship" before it's "bread and butter" product sinks them further.

NEW YORK/LOS ANGELES (Reuters) - Sony Corp. risks losing its iron grip on the video game console market with its new PlayStation 3 (PS3) and needs to significantly lower the price on its high-end machine to woo buyers, Ubisoft Entertainment SA's (UBIP.PA: Quote, Profile, Research chief executive said on Wednesday.

"For sure Sony will have a different market share ... lower than before," said Yves Guillemot, chief executive of Ubisoft, Europe's second-largest game publisher, at the Reuters Global Technology, Media and Telecoms Summit in New York.

Guillemot expects the extent of the decline to be linked to pricing on the PS3. The high-end unit sells for $600 in the United States, $200 higher than the top-end Xbox 360 from Microsoft Corp. (MSFT.O: Quote, Profile, Research and $350 above Nintendo Co. Ltd.'s (7974.OS: Quote, Profile, Research Wii.

"They have to decrease the price quite significantly," he said, declining to elaborate. The fortunes of the machine also depend on whether Sony can sell consumers on its next-generation Blu-ray DVD technology, since the PS3 includes a Blu-ray player.

Read all about it here, courtesy of reuters.com

Eric