"This year, our strategy is not to sell more quantity for PS3 but to concentrate on profitability," Oneda told investors at the Nomura Asia Equity forum in Singapore. "Our plan is not to reduce the price."

Oneda's remarks follow recent reports that Sony lost $3.31B over 2007 and 2008 due to an imbalance between the production cost of the PlayStation 3 and its retail price point.

Competitor Microsoft's Xbox 360 is expected to enact a $50 price reduction for the Premium version of the console next week, setting the retail price point at $299 down from $349.

The PlayStation 3 is currently available in two hardware configurations at retail: a 40GB versio priced at $399, and an 80GB version running $499.