Sega exec: PS3 needs price cut

Outside pressure continues to mount for Sony this week as one more game-industry exec calls for a PlayStation 3 price drop. Speaking to Reuters on Monday, Sega corporate director Masanao Maeda said that Sony's best shot for increasing demand of its next-gen console is a price cut by the end of the year.

According to the Reuters interview, Maeda believes brand recognition, price point, and software availability factor most importantly into selling consoles. With Sony's flagship system no longer backed by superior software exclusives, Maeda asserts a "superior marketing and pricing strategy will be the key for Sony."

In the past year, Sony has seen many of its assumed exclusives head to competitors' consoles, including Assassin's Creed, Devil May Cry 4, and Grand Theft Auto 4. Other longtime Sony exclusives, such as Square Enix's Final Fantasy series, have also recently been called into question.

Maeda isn't the only industry executive with grumblings about Sony's PS3 business. In May, Yves Guillemot, CEO of France-based publisher Ubisoft, expressed similar dissatisfaction with the PS3, saying the console's price needs to be lowered "quite significantly" as it is putting off many would-be buyers.