Sony Computer Entertainment Australia is refusing to say whether they will slash the cost of their PS3 gaming console in Australia after the price of the console was slashed overseas.

Among the most expensive gaming consoles in the world SCE Australia has a reputation for price gouging and not passing on overseas price cuts

Overseas Sony is slashing the price of the PlayStation 3 by US$100 in hopes of boosting sales which have fallen significantly during the past12 months.

Sony said that they will cut the price of the currently available 80 gigabyte PlayStation 3 effective immediately, to US$299. The same unit sells in Australia for $599.

The Company is also set to launch a slimmer, lighter model with a 120 GB hard drive in early September. The US version will sell for $299.  

Sony also cut the price of its existing 160 GB PlayStation 3 by $100, to $399. (The Australian console price for the same unit is $699).

According to data from the NPD Group, total industry sales for hardware and software for the month of July were down 29% from the same month the previous year.

Year-to-date US sales totaled $8.16 billion by the end of July — down 14% from the $9.49 billion in sales for the same period last year.

Sony has suffered more than its rivals in the business. The PlayStation 3 has been the most expensive by far of the latest generation of consoles, debuting in late 2006 at price tag of $600. The company later reduced the price to $400, but that remains well above the Xbox 360 from Microsoft Corp., which sells the basic version of its console for less than $200.

The popular Nintendo Wii — which has outsold the PS3 by more than double on a global basis — is priced at $250.