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David Reeves, the head of Sony Computer Entertainment Europe, has hinted that there will be a PS3 cut but is not prepared to say when, adding that the PS3 will probably always be the most expensive console.

Speaking to Eurogamer, Reeves argued that despite falling year-on-year sales for the PS3, the Xbox 360 is not a million units ahead in PAL territories, as Microsoft recently claimed.

"Xbox 360 is not ahead by a million units... Our installed base now is very close to 8.5 million units in PAL territories. Our numbers show we are absolutely neck-and-neck."

"We've said it would be 10 million [units sold in 2009], and it is 10 million. We had a price decrease in the previous year, and we didn't have a price decrease this year. Xbox 360 did, and Nintendo was already quite low."

As for cutting the price Reeves was more evasive, but said that they may need to. Even so, he admitted that the PS3 will always be the most expensive console.