Sony Computer Entertainment Europe today moved to quash speculation that it would be reducing the price of its PlayStation2 computer entertainment console before Christmas. The move follows news coverage of a reduction in the wholesale price of the PlayStation 2 in Japan, to bring it into general alignment with the current console price in Europe and North America. The Japanese price cut was made possible by increased production yields of the NTSC format console for the Japanese market (Europe use the PAL TV format). Sony Computer Entertainment Europe confirmed today that there were no plans to reduce the price of PlayStation 2 in the PAL territories before Christmas. We are very content with the sales of PlayStation 2 in Europe following our price reduction at the end of August this year,” said David Reeves, EVP Sales and Marketing at Sony Computer Entertainment Europe. “This Christmas sees a phenomenal line-up of PlayStation games, from Harry Potter and The Lord of the Rings, to The Getaway, GTA Vice City, This is Football 2003, Formula 1 2002 and WRC II Extreme.