Ryoji Chubachi

Sony last week announced a reorganization of its operations, with CEO Howard Stringer both taking on the title of president and taking control of the company's CE business.

Despite multiple reports that a $100 price cut for the Sony Playstation 3 was imminent in the U.S., Sony’s president told Bloomberg News’ Japanese bureau that the company currently has “no immediate plans” for such a cut. Several gaming Web sites, including GameDaily.com and CAGCAST Video Games, reported Thursday that Circuit City would begin selling the 60GB PS3 console for $499, a $100 drop from its current price, beginning July 12. Some of the sites cited store employees, while one Web site discovered a leaked advertisement which included the lowered price. Circuit City declined to comment to Bloomberg. Sony president Ryoji Chubachi

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