Despite, Sony Computer Entertainment America boss Jack Tretton recently stating that it’ll be hard to reduce the PS3’s pricing as the cost of production is so high, Games Industry.biz are reporting that some Japanese retailers have taken the matter into their own hands by cutting the price of the PS3 by 20% in a bid to shift their stock piles.

While the Wii is said to be selling well in Japan, the PS3 is said to have suffered its worst period of sales last week.

According to the latest figures, Sony have sold 553,033 of the one million PS3s that were shipped to Japan.

If the price reductions are true, it could affect sales in the US and those in Europe when the console launches in March. After all, who will buy a PS3 for £555 if they think there's a chance that retailers will drop the price within the first couple of months?

Source: Games Industry