According to several sources, George Fornay, president of Sony Computer Entertainment France and Vice President of Sony Computer Entertainment Europe has made comments on French Radio Station Europe 1, announcing that the PS3 would be priced between $612 and $734 US dollars, considerably higher than even the more expensive Xbox 360 package. However we must take into consideration that after analysis of the Xbox 360's component's, many have concluded that the Xbox 360 had been sold at a considerable loss, made possible only by the fact that they have the Microsoft corporate cheque-book at their disposal.



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Update
Corporate Communications Director of Sony Computer Entertainment Nick Staples, has gone on record to say that Fornay's comments as reported above are a 'misunderstanding', Staples said "At no time did he suggest or indicate a specific price point or price range for PS3, and any reports that he did so are incorrect".

Staples then summarised by saying that the PS3 would be perceived to be expensive when compared to other video game consoles, but stressed that the other features of the system such as Blu-ray indicate it would be good value.

At this point it seems likely that the price 'range' reported above is indeed accurate, however Sony is stressing at this point in time it is not official.

Source: PALGN