Sony's PlayStation3 will come with a hefty price tag when it launches in November according to the president of Sony Computer Entertainment France, George Fornay.

Speaking in an interview on radio station Europe 1, Fornay suggested that the console would cost “around 500 euro”, with his expectation being that it will be priced between 499 and 599 euro.

At the cheaper end this means that gamers will be expected to pay £350 for the console here in the UK, if Sony don't put a premium on the UK price.

Sony will argue that an increased price point is justified because of the inclusion of the Blu-ray drive, however it will make the console £70 more expensive than the Xbox360 standard pack and a whopping £140 more expensive than Microsoft's core offering taking the cheaper 500 euro price point.

Confirmation of pricing isn't expected any time soon, as Sony will no doubt want to keep that information close, to both stave off Nintendo's revolution pricing intentional undercutting the console and Microsoft dropping its price even further in time for the Christmas shopping season.

We will keep you posted.