Executives of Sony have been snubbing calls by gamers to cut prices of the PlayStation 3.

CEO of Sony America, Jack Tretton said in an interview that Sony had long term plans to take hold of consumers.

He further said that the PS3, which was available for $599 three years ago, is now available for just $399.

Many retailers when referred questions regarding cuts in PS3 prices answered that price cuts would be good for customers but won't lead to an increase in sales.

Activision CEO Bobby Kotich has said that they might stop supporting Sony and shift development resources away from Sony’s PlayStation3 towards cheaper rival machines.

However, a retail sales rep in Southern California said the main problem with the PS3 is not the price but the relative lack of games. He further added, "We need a better game selection. The Xbox 360 has twice as many games as the PS3 does."