PS3: Union Jack Edition... is not real
UK retailers sell PS3 for £37 ($74) less than the suggested price

Despite Sony CEO Howard Stringer calling the European PS3 launch successful with 800,000 sold, reports say that UK sales dropped 82 percent the immediate week after. In response, several UK retailers have taken it upon themselves to enact a more aggressive pricing strategy to help reignite sales of PS3 with price drops to as low as £387.87, which is £37 ($74) less than the suggested price.

“PS3 performed well pre-launch and the first week of release, but since then sales have dropped considerably,” said boss Stephen Staley to MCV. “I am sure the deal will help matters. I personally believe the cuts are down to overstocking from launch. Credit goes to Sony for supplying all of the demand, however this has left most retailers with a lot of stock and with the consoles costing around £400, you can imagine it’s not healthy for any business to have a lot of PS3 consoles gathering dust in a warehouse."

“We are obviously selling the console at a loss to try and attract new customers to our site. We are sure the PS3 is going to be big business for us over the next eight years so to get a good foothold in this market is essential," Staley added.

Earlier this morning, Sony president Ryoji Chubachi was recorded as saying that the company is in the midst of re-evaluating the pricing strategy for its newest console, though such comments were later countered by a Sony spokeswoman.

"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997

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