David Reeves, big boss man at Computer Entertainment Europe, has said that there will be no price cut for the PlayStation 3 in 2008.

"There is no price cut, that is true," the European chief told GI.biz, Sony clearly confident that there newly announced models and strong games line-up will see the console through the all-important festive season.

Reeves is sure that the Vidzone content will further bolster the console, while will "definitely" be out on time.

He enthused: "The closed beta has been expanding, the open beta will come in the Autumn and will be announced by the Home group - either in London or in Tokyo. I don't know when exactly, but they're in control of it."

More soon.

By Luke Guttridge