The latest reports are in and Sony will miss their self-imposed goal of moving 10 million PlayStation 3 consoles worldwide in the first fiscal year of release. Holiday sales of the PS3 were flat as we have reported previously, with both the Nintendo Wii and Microsoft Xbox 360 beating the PS3 by a healthy margin.

The latest reports have the Xbox 360 outselling the PS3 by a three to one margin despite the fact that the Xbox 360 is older. Nintendo is said to have doubled its sales this holiday season, beating the PS3 by a massive margin.

According to our sources Sony remains very optimistic about the future of the console and is looking to close the quarter on a very strong note. With the margin in adoption rate widening, we are hearing that Sony will start to look at another price cut, as the company plans to slash the price of the PS3 by an amazing 35 percent, according to various reports.