The brief quote, part of a wide release to news media, once again emphatically denies that a PS3 price drop is planned. Al De Leon, PR manager for SCEA, says that Sony "remains focused on the long-term momentum of the PS3."

For some time, the game industry rumor mill has been relentlessly fixated on a PlayStation 3 price drop. Media sources suggest that the worldwide branch of Sony Computer Entertainment is planning an announcement for tomorrow, Tuesday, March 31st. But Tuesday's announcement is likely a confirmation of a , a story that has picked up momentum in recent days. Considering the tanking international economy, a $99 PlayStation 2 could theoretically keep the aging system alive indefinitely -- it still racks up sturdy sales nearly 10 years after its debut, thanks in part to its . And its technical specifications are largely similar to the mega-hit Wii system, proving that HD graphics aren't necessary for high sales.

Regarding the PS3 price drop rumors, we've posted the full SCEA news release below.

"As we have stated previously, we do not have plans for a PS3 price drop, and any rumors to that effect are false and are the result of speculation. SCEA remains focused on the long-term momentum of PS3. With the industry's best software lineup this year, combined with our most aggressive marketing campaign to date, we remain confident in our approach and the value we're delivering with PS3." Al De Leon, PR Manager, Sony Computer Entertainment America