Sony has once again reiterated that there will be no PlayStation 3 price cuts this holiday season. Despite the already pricey PS3 losing in sales to both the Xbox 360 and the Nintendo Wii, the electronics giant feels that they may have the upper hand this holiday.

Patrick Seybold, director of corporate communications at Sony Computer Entertainment America, has said that "As previously discussed we aren't making any price moves this holiday season. In my opinion, we have the best line up of any PlayStation generation going into this holiday and consumers will be very receptive to it. "

Even though PS3 sales are up 30% for the year, the recent Xbox 360 price cut has once again given Microsoft a considerable lead in units sold. Still, with new features such as the PlayStation Home and a slew of new titles, Sony believes that the $399 retail price is fair.

Seybold continues on:

"With PS3 titles for this including Resistance 2, LittleBigPlanet, SOCOM, MotorStorm: Pacific Rift to name but a few of our multiple exclusives, combined with PlayStation Home and increasing multimedia features for the hardware, we expect to have continued momentum going into and beyond this holiday season. "