It's not a confirmation, but it's yet another indication that the PS3 will soon receive a much-needed price cut.

They're facing stiff competition, and despite some decent sales in the U.S. and Europe, they're still lagging behind the Nintendo Wii and even the Xbox 360 (which has been out for about a year and a half). The latest numbers from a variety of retailers are certainly more encouraging, but even so, consumers are pining for a price reduction. And so, one Sony president has addressed the situation:

"Sony does not rule out the possibility of lowering the price" of the PS3, Sony president Ryoji Chubachi told the daily Yomiuri Shimbun.

He moved on to say the company would make a "full assessment" of the competitive situation in the game market, and then make a decision. They already cut the price of the system by 20% in Japan for the launch, so other regions are anxiously awaiting similar treatment. It helps a great deal that Blu-Ray costs are now cheaper for Sony, and with the big games right around the corner, the time is near for lowering that $600 price tag.

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