Sony Computer Entertainment Europe has said that it has no plans to cut the price of its PlayStation 3 console in Europe according to the company's president David Reeves.

The comments come in an interview with gaming website Eurogamer, due to be published later this week.

"What we're going to allow, and it doesn't need an announcement, is simply that we'll probably put out more hard bundles than the Starter Pack."

The news comes after Sony was criticised recently for deciding not to reduce the price of the console but offer a value pack bundle complete with extra controller and games in the box instead.

"We're not making any pricing announcements at Games Convention at all", said Reeves in the interview. "There's none. And we don't have any plans in that regard. We're really happy with the way that things are going for the PAL business. We really are. It's on track."

Last month Sony lowered the price of the 60GB console in the States by $100, bringing it down to a more affordable, if not exactly bargain-basement, $499.

In related news Microsoft's Xbox 360 Elite launches in the UK today. The console which will go on sale for £299.99 works out at as virtually the same price as the PS3 once you add an additional controller and HD DVD drive into the mix.

The new console will feature a 120GB hard drive and HDMI socket, something until now the console has been lacking.