Believes the 'overall value of the box certainly trumps' a price cut.

ps3 final hardware 11 - Sony on PS3 price cut: it's a...

Speaking to GameDaily, John Koller, director of hardware marketing at Sony Computer Entertainment America, has insisted that the value offered by the PS3 justifies the console's high price tag and labelled the system a "premium product".

"We're monitoring all aspects of the business and we believe the overall value of the box certainly trumps any other move at this point," said Koller.

He added: "I can say when we look at all of our platforms, we have to look at them as a business, but we also look at them in terms of where that consumer demand curve is, which is very important. I think a lot of people just say, "drop price, drop price" ... but we need to run this as a responsible business."

"... we also do believe in the overall value of the box and the perceived value that's inherent in the PS3 as a premium product is important," added Koller. "So we're doing our best to message that."

Does the PS3 offer good value? Should it be seen as a premium product? Share your thoughts in the comments section below.