SCEE head honcho David Reeves has commented that this Christmas isn't neccessarily make or break when it comes to the future success of the PS3. In an interview with 'Three Speech' Reeves commented that the most critical one will be Christmas 08 and imagines the whole cycle to be like a tsunami starting small and gathering speed over years. Reeves also defended SCEE's decision not to cut the price of the PS within Europe by stating that July is not a gamer's month and they thought they'd anger a lot of people if they cut the price of the PS3 right now.

SCEE president David Reeves says that this Christmas isn't necessarily the most critical one for Sony.

In an interview with semi-official Sony blog Three Speech, Reeves said: "I think each peak is crucial to maximise what you can do, but I don't think this Christmas is necessarily the most critical one - I think that's going to be Christmas 08."

"I see this more as kind of like a tsunami – it starts small and gathers speed, and eventually, after four or five years, it will start to take you over."

Responding to criticism of the lack of a European price cut to match the recent US drop, Reeves defended SCEE's actions. "July is not really a gamers' month unless you get a big, big title," he said. "So we thought if we reduced the price, we'd annoy a lot of people."