Reports earlier this week from the Financial Times indicated that Sony might be considering a price cut for the PlayStation 3, in the wake of less than anticipated sales. Certainly signs seemed to be pointing towards such a drop, with the elimination of the 20GB console in the US and rumors of a PS3 with a larger hard drive resurfacing. Today, however, Sony has made a statement declaring that there are no plans in place for a price drop. Next Generation reports that Sony’s statement indicates that the company will let market trends and competition determine their pricing strategy – but that seems to be what the Financial Times suggested would be driving the price drop.