SCEE president Andrew House has answered those who claim that Sony’s PS3 price cut didn’t go far enough by saying that the drop was simply as far as the platform holder could go.

“Of course consumers will absolutely always say £100 off is better than £50,” House admitted. “But within the current regiment we have right now we have done as much as we are able to.”

The machine will now retail for £249.99 - £50 off the RRP. It sells for €299 in Europe and $299 in the US, where the price has been reduced by €100 and $100 respectively.

PS3’s new iteration rolls out around the world in the first week of September, but in the meantime the price of older units has also been reduced to the new price point to clear out stock.

But £50 is as significant a move as Sony is willing to take, said House, despite speculation that Microsoft is waiting to clear the channel of 360 stock ahead of its own price cuts next month.