Sony has no current plans to introduce a PS3 price cut, despite the upcoming release of PS4.
The company showed off the PS4 hardware for the first time during its E3 conference last week, when it confirmed a Christmas PS4 release date in Europe and the US and a PS4 price of Â£349 / â‚¬399 / $399.
While some had forecast that the PS4 launch details would be accompanied by a PS3 price cut announcement, Sony Computer Entertainment UK managing director Fergal Gara told GamesIndustry International such a move isn't being considered at the moment.
"There's no plans as yet," he said. "The PlayStation 3 is a system where it hasn't been particularly easy to get the costs down.
"We continue to look at opportunities, there may or may not be any more, I genuinely can't answer to that," he added.
"But it will certainly be a more keenly priced machine in relative to PlayStation 4. It will sit there as a viable entry level machine for years to come. It will be different by territory as to how long its life is. There's still a lot of love for PS3."
Despite PS4's upcoming launch, Sony has dedicated plenty of resources to PS3 games set for release in 2013. As well as the just-launched The Last of US, the platform holder intends to release major first-party PS3 games like Beyond: Two Souls and Gran Turismo 6 before Christmas.