Playstation blog, Three Speech has interviewed David Reeves, the President and Chief Executive Officer of Sony Computer Entertainment Europe and asked him why the UK have only been offered PS3 value packs, rather that the price cut that has been offered in the US.

The US market has received a $100 reduction in the price of the PS3, whereas UK consumers have been offered various value packs (check out the best deals on PS3). Reeves made the following statement on why the price hasn't been reduced in Europe.

If you're a consumer — and we introduced the PS3 in March for £425 or 599 Euros – let's say you bought one at the end of April and have been using it, playing Resistance: Fall of Man and MotorStorm. We've only been on the market for three and a bit months. Our thought process was: "Wait a minute – we're actually not doing too badly – we're not selling as well as Wii or DS – but seasonality-wise, compared to, say, PS2 at the same time we launched it in 2001, we're actually doing quite well on a regional level". It's exactly the target that we sought. July is not really a gamers' month unless you get a big, big title. So we thought if we reduced the price, we'd annoy a lot of people. We did think about it, but we also felt that it wasn't doing that badly. In the US, they've been going for more than six months, so they took the decision that going down in price was a better thing to do than a value pack.

Reeves does have a point, I wouldn't be too happy if I'd just bought a PS3 for £425 only to find out that there was a substantial price drop in the first few months after the launch. Perhaps, by the end of September (6 months after the UK launch) we'll see the price cut we've all been waiting for.

The full interview is an interesting read. Reeves talks about retailer competition in the UK, whether the PS3 will be a real contender over the Christmas period and his views on grey-market imports.

Check out the full interview on: Three Speech