In the past few weeks, various Japanese analysts have predicted that a PS3 price cut is just around the corner. While this may not make sense at present due to reasonably solid sales figures, many have speculated that a price cut could come by the end of 2007.

Today, Sony responded to the price cut rumors, confirming that they currently have no plans to reduce the cost of the console.

"PS3 prices and shipment plans for the future should be determined by market trends and competition. Sony currently doesn't have any specific plan to cut the PlayStation 3's price."

Despite Sony's assertion that a price cut is not on the cards, we wouldn't be too surprised to see a reduction of some sort, even in the form of a game bundle, by Christmas.

One thing's for certain - if a price cut does eventuate in the next two years, some retailers will be eating their own words.