Sony has denied recent speculation that it plans to slow down production of the PlayStation 3 until a production costs go down and has once again denied any plans of a price cut.

The statement by Sony's director of corporate communications, Nick Sharples, is in response to analyst Lazard Capital Markets stating “reports from Asia suggest that Sony has reduced production of PS3s, at least temporarily, which may suggest that a price cut is less likely this year.”

Shaples however, announced to MCV UK that he was “not aware of any cut in production” and that a fluctuation in the production of consoles was a usual response to seasonal consumer spending habits and is in no way an indication of Sony's pricing plans for the PlayStation 3. “We announce when changes in price will happen and we don’t discuss them beforehand,” he said.