It seems that Sony may have already decided that they will not slash the price of the PlayStation 3 despite desperate pleas from multiple software developers. Our sources say that the decision has been made that Sony will wait till closer to the holiday season before another re-evaluation of a possible price cut while the company works on another revision of the console to reduce cost.

The news will not sit well with many developers who have sunk a lot of money into the development of titles for the PS3 only to receive mediocre sales at best in most cases. Many developers as well as retailers believe that the leading problems with the PS3 is the cost of the console itself, which leads many buyers to select the Xbox 360 if they are serious gamers or the Nintendo Wii if they wish to opt for a family oriented system.

Many developers have realigned their development strategy to direct more titles and effort toward the Wii as well as the Xbox 360 which both have a sizable lead over the PlayStation 3 in sales. It is also thought that the focus of E3 will be the introduction of the new PSP, and it has also been decided that perhaps a price cut on the PS3 might only take away from the launch of the new PSP.