Sony has already managed to reduce the manufacturing costs associated with PS4 hardware, the company has revealed.

The cuts have allowed Sony to revise its financial expectations, increasing its projected FY2015 operating income for its Games & Network Services division from 20bn yen to 25bn yen.

"Sales are expected to be higher than the May forecast primarily due to the strong performance of the PS4," Sony said in its latest earnings report. "Operating income is expected to be higher than the May forecast primarily due to PS4 hardware cost reductions."

The reduced costs suggest Sony could be better placed to cut the price of PS4 at an earlier point in its life-cycle - or continue to reap improved profits from ongoing sales.

PS4 sales stood at 7 million in April although Sony has failed to provide an update since. PS3 and PS4 sold a combined 3.4m units between April-June 2014, however, of which the vast majority are expected to be PS4.

Source: sony.net