In a recent interview Sony CEO Sir Howard Stringer announced that a price drop for the PS3 is definitely in the works. In the article he also explains that current games only use 20% of the PS3's power.
Stringer admitted to The Financial Times, noting Sony is researching cost-cutting measures for the $599 system.
"PlayStation 3 is following a particular trend of 1 and 2, and if you look at the history, this is very similar history," Stringer said. "It takes a long time for producers, and more time because of the cost factor, to embrace the full bandwidth of PlayStation 3--it's only using 20% of it right now.
"While people have not bought as many PlayStation 3's as it looks, it is no different from PS2 or PS1 in terms of percentage of sales and it is an experience that is dazzling," he continued. "People who play it, using only 20% of the bandwidth, are perfectly happy playing it and the games will get better."
The executive also had some kind words for the efforts of competitor Nintendo and its cheaper Wii, echoing similar praise from Microsoft last week. "Nintendo Wii has been a successful enterprise and a very good business model compared to ours," he said.