Sony Computer Entertainment UK MD Ray Maguire has revealed that PlayStation 3 will retail for GBP 425 when it launches in the UK on November 17th, but has defended the price point as "a bargain" for consumers.
I don't think it's an expensive machine; I think actually, it's probably a cheap machine," he commented. "If you think a Blu-Ray player by itself might be GBP 600-700, and we're coming in at just GBP 425 - it's a bargain."

"The point is that most people don't realise what they're actually getting with PlayStation 3," he said. "Number one, it's a games machine and we all know that. But also it's a high definition video playback device through Blu-Ray, and a lot of people don't really understand that part of the functionality either. There's a big story to tell people and a lot of information to be taken on board."