Sony has confirmed sadly that they will not be releasing the in or the this year.

Sony made the announcement at their Tokyo offices giving every indication that the console would be released in at least by the end of 2011.

Hirai seemed unperturbed by the impending price slash saying: "We packed so much into the device and made it very affordable. There is no need to lower the price just because somebody else that happens to be in the video game business decided that they were going to lower their price."

We have heard unconfirmed reports from our sources that they is to do with a shortage of batteries for the device.

Thanks Associated Press.

By Ewan Aiton