The last time Sony slashed PS3’s price, it immediately translated into much improved sales. However, Sony isn’t too keen on cutting prices at this time, according to its CFO Nobuyuki Oneda. This denial comes amidst rumors that suggest the Xbox 360 Pro console – one with the 20gigs drive – will soon receive a $50 price cut.

Even though the PS3 has climbed back to a position of moderate strength after the abyss it plunged into almost immediately after launch, it still is making huge losses. But Oneda told a forum in Singapore that he expects the gaming division to churn profits this fiscal year. Sony can do a world of good to PS3’s prospects by expanding the console’s small games library than lowering prices.

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