Despite multiple reports stating that a possible price cut for the PlayStation 3 (PS3) is still as far as two years away, the console's premium price tag is clearly on the minds of top Sony executives. Sir Howard Stringer, CEO of Sony, discussed the thought process behind delivering a price cut to the end consumer in an interview with the Financial Times.

In the portion of the interview that focuses on the gaming industry, Stringer first described how the "Nintendo Wii has been a successful enterprise and a very good business model compared to [Sony's]" because its popular console is cheaper than the PS3.

"I think that the public would like the cost to be lower, there's no question about that," said Stringer.

The CEO then proceeded to explain how "PlayStation 3's travails are usually solved by time," citing a strengthening release schedule and the impending launch of Home this fall as signs that PS3's sales performance will improve.

When asked how much Sony can afford to lower the PS3's price, Stringer replied, "That's what we're studying at the moment; that's what we're trying to refine." Stringer added that he will be able to answer that question by Christmas.

See also:

Sony PS3 review

Nintendo Wii review