Holding out for a cheap PS3? You may be waiting a while

Still holding out for another price drop before you buy a PS3? Looks like you may be waiting a little while.

In a recent interview with IGN, Shuhei Yoshida, the head honcho of Sony’s Worldwide Studios, said the company is now making a profit on PS3 sales and is in no hurry to reduce prices any time soon.

Since the release of the original PlayStation 3, Sony has been quietly replacing the innards of the console with cheaper hardware, so much so that the company has managed to turn it around from being bit of a loss-maker to a pretty profitable gaming platform.

Yoshida believes that Sony’s upcoming Move controller and last month’s 3DTV update are enough to justify freezing the PlayStation 3’s current price for the forseeable future, opting instead for additional console bundles to drive sales.