PS3 is 70% cheaper to make

Totalvideogames are reporting that Sony Corp's CEO and Executive Vice President Nobuyuki Oneda have commented that Sony have cut production costs of the Playstation 3 with 70 per cent since it launched.

"The cost reduction since we introduced the PS3 is very substantial and this is on schedule. We don't disclose how much of the PS3, specifically the cost deduction was achieved during the past two years. But that is on schedule."

When pressed for specifics he added that cost had been reduced "about 70%, roughly speaking".

It has been estimated that the PS3 cost about 800 dollars to produce at launch, which would put the current cost (ignoring the strong yen) at roughly 240 dollars. Perhaps this is low enough for Sony to consider a further price drop during the second half of this year. Let's hope so.