Sony has no plans to cut the price of Sony Playstation Portable

Market has been abuzz with rumors that Sony might be considering cutting the price of their popular Sony PSP gaming device to challenge the Nintendo’s DS Lite console.

However, a company spokesperson has responded in a statement that they have no immediate plans to go ahead with a price cut.

The rumors were started by a report in the CNN Money, which had a market analyst saying that the company is planning to announce a price cut in the price in the second half of the current year.

A Sony representative responded: “Currently we have no plans to cut the price of the PSP at this time.”