As has been widely anticipated, Sony has failed to confirm a PlayStation 3 price cut for 2007 during its Tokyo Game Show keynote speech this morning, with worldwide boss Kaz Hirai saying only that such a move is a "possibility" for the future.

The will be "no surprise in this regard this year," said Hirai, referring to last year's TGS PS3 price announcement. "Price is a very important aspect, but at the same time the urgent matter is to what extent we can further enrich the software titles," he said.

PlayStation 3 is by far the most expensive "next gen" console, retailing at a suggested GBP 425 in Europe and USD 599 in the US. Hirai's confirmation that no movement of price will be seen this year backed up a speech seeing an Evolution Studios buyout, confirmation of Dualshock 3, a slippage for PlayStation Home and a release date for GT5 Prologue as its major announcements, and will disappoint many in the trade looking for major sales boost for the machine this Christmas.

Check out all the details from Hirai's keynote speech right here.

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Patrick Garratt

Patrick Garratt

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