With Microsoft's move to cut the price of all Xbox 360 models in the UK the automatic reaction by everyone is to ask when Sony will cut the price of the PlayStation 3. Sony isn't in the same position as Microsoft though and a price cut might not be as necessary as it's being made out to be. We put our heads together and came up with the Top 10: Reasons why the PS3 doesn't need a price cut.

10. Free online play


Don't want to pay £40 a year to play online games? On the PlayStation 3 all your online gaming is free. While some of the functionality seen in Xbox LIVE isn't currently present, Sony is continuing to improve the PSN service. With network-wide friends lists access starting to appear in more and more PS3 games, Xbox LIVE is slowly being caught up.

9. Home


This online virtual network where you'll be able to meet up with friends, share content and organise online game is unlike anything available on the Xbox 360 and Xbox LIVE. With Sony working on new content for their games accessible via Home, it's certainly looking like more than a novelty virtual chat room. Being able to head over to a mate's online apartment, chat to the gathered friends and then seamlessly head off into a game sounds good to us.

8. Brand loyalty


Over 100 million PlayStation 2s have been sold across the world. Given that the current PS3 user base is about 10 per cent of that figure, that leaves a lot of PlayStation gamers yet to make the switch to the PS3. No doubt some will have opted to support the Xbox 360 or Wii, but a large number will be looking at the PS3 as their next console. Those users will make the jump eventually, so there's no need to rush them into buying now.

7. Sony's three-pronged attack


If Sony only had one horse in the race the situation might be very different, but with the PS2 and PSP selling well it has revenue coming from three different platforms. The PS2 offers gamers a solid and affordable gaming platform, the PSP is the most advanced handheld system on the market and the PS3 currently sits as the premium, high-end console. Maintaining its image and preserving a relatively high price will allow Sony to make more strategic price cuts in the coming years.

6. Long life left


Sony has a history of supporting its platforms even after a new platform has hit the market. Both the PSone and PS2 received support when their successor arrived, and there's no reason to suggest Sony won't do otherwise with the PS3. The company has a 10-year life-cycle planned for the PS3 so it's potentially got another eight years of support left - something that we can't see happening with the Xbox 360. The price will come down gradually over those years.

5. Plenty of good game to choose from


The PS3 got off to a shaky start, but even the most blinded Sony haters can't argue that the system is devoid of quality titles. With the likes of MotorStorm, Resistance, Unreal Tournament 3, Uncharted, Heavenly Sword, Ratchet & Clank and Warhawk all on store shelves, you can certainly experience some of the best games this generation has to offer, only on PS3. Multi-format releases are also improving, with the differences between Xbox 360 and PS3 versions getting less and less noticeable. Burnout and Call of Duty 4 are two excellent examples.

4. Blu-ray


Yes, video game consoles are primarily about gaming, but you can't ignore the PS3's ability to play Blu-ray movies. As long as you've got your PS3 hooked up to your TV with an HDMI cable you can experience full 1080p movies for no extra cost. Now that Blu-ray has come out victorious in the HD movie format war the Blu-ray playback in the PS3 is a real bonus. The console is also currently the best option if you're looking for a player as it's fully upgradeable through software.

3. Great games due this year


With some huge heavy hitters due on PS3 this year Sony doesn't necessarily need to reduce the console's price in order to drum up attention. Metal Gear Solid 4 has been highly anticipated for years, and sequels to MotorStorm, Resistance and Killzone could blow away the competition. The lower key, but equally impressive LittleBigPlanet could also present gamers with something unlike they've seen before, and it's only going to be on the PlayStation 3.

2. Yet to fulfil its potential


When you buy a PlayStation 3 you're not only getting what's out now, but what's coming further down the line. The games due this year look great, but in 2009 we could well see the games that show the real power of the PS3. Gran Turismo 5, God of War 3 and Final Fantasy XIII are huge blockbuster games, only coming to PS3 and potentially more impressive than any games we'll see on the Xbox 360 in the future.

1. Hardware quality


While none of us here at VideoGamer.com have suffered the dreaded Red Ring of Death on our Xbox 360s it's impossible to ignore. The Xbox 360 isn't nearly as reliable as it should be and this is something that the PlayStation 3 doesn't suffer from. Sure, people have reported broken PS3s but it's a small percentage. You're paying more for your PS3 but you're relatively safe in the knowledge that it won't break a few months down the line. What's more, you can hardly hear it when it's in use; something that can't be said for the Xbox 360. A Hard drive and wireless adapter can also be found in every PS3.

Do you think the PlayStation 3 needs a price cut to compete with the Xbox 360? Does it present enough of a hardware improvement over the 360 that it can continue to sell at a higher price? Let us know in the comments section below.