Sir Howard Stringer, the chairman and chief executive of Sony Corp, said the electronics and entertainment company was trying to "refine" how much it could afford to cut the price of PlayStation 3 gaming consoles, saying there was "no question" consumers wanted the price to be lower.

In an interview with the Financial Times, Sir Howard said rival Nintendo's game called Wii - which is by far outselling the more expensive PlayStation - was based on a "very good business model" but he saw thetwo systems as "complementary and supplementary".