Sony ‘very happy’ with PS3’s sales, claims there is ‘no need’ for a price drop

With rumors of Sony and Microsoft allegedly working on next-gen consoles, and the current generation seemingly coming to a close, many expected Sony to announce some sort of PlayStation 3 price cut at E3.

Back in April, industry analyst Michael Pachter believed that lagging console sales could lead to the price cut.

According to Sony Worldwide Studios President Shuhei Yoshida, the company is "very happy with how the PS3 is doing in terms of sales," and sees no need for a price drop any time soon.

Speaking to GameInformer in the latest issue, Yoshida added, "We had the best year last year."

"We have great games coming out for the PS3," he explained. "So we do not necessarily see the need for a price drop."

Some of those games were showcased or revealed for the first time at E3 including the highly anticipated brawler PlayStation All-Stars Battle Royale, Naughty Dog's latest survival thriller The Last of Us, and Quantic Dream's Beyond: Two Souls which stars Academy award nominee Ellen Page.

As you can see, those are some very powerful titles which, I'm sure, Sony hopes will help boost sales of the PS3. I know they make me happy to own a PS3, but will they inspire others to go out and purchase a system?

With the Wii U's launch right around the corner and rumors of a PS4 and Xbox 720 ramping up, can Sony afford to rely on games and not a price cut?