According to Sony, that won’t keep the price of Blu-ray players high for too long, though.

Stan Glascow, CEO Sony Electronics, told a roundtable event in New York that prices would slowly drop as time went on.

"I don't think $200 is going to happen this year, but next year $200 could happen,” Glascow told Gizmodo.

“We'll be at a $300 rate this year. $299 will happen this year.”

The price of technology would usually be pushed down by Chinese manufacturers, who use economy of scale to make units cheaply.

However, that hasn’t happened yet because the Blu-ray Association hasn’t licensed that technology to any of those companies.

"Will there be Chinese players? Yes,” the New York Times reported him as saying.

“We don't need to drive that and hand the technology over."

Glascow added that movie downloads won’t kill off Blu-ray prematurely because, "People like owning packaged media."

"Downloading will build over time, but it could take 10 years for significant penetration," he said.