Pachter Expects PS3 Price Drop In April
Sony has conquered many of the major problems facing the PlayStation 3, but next to a decided lack of advertising, they still need to provide another price drop. Or at least, that's what consumers want, despite Sony's continued insistence that it won't happen. They've also worked to prove that the PS3 gives you more bang for your buck, which is a good argument, but...well, we still want that price drop.
And most analysts say we'll get it at some point. In fact, according to GameDaily, Wedbush Morgan Securities analyst Michael Pachter has nailed down an estimated time for that cut. In addition to predicting growing sales rates (which should be confirmed with the updated NPD and EEDAR numbers), Pachter expects the PS3 to drop to $299 in April. However, he also says that will soon be followed up by another Xbox 360 price cut - down to $249 - some time around E3 in June.
"Once the PS3 is at a more affordable price point (we expect a cut to $299 in April), we think that sales of that device will once again begin to grow. We expect another cut in price for the Xbox 360, with the feature-laden Pro model likely to come down in price to $249 at or before this year's E3 show in June. We expect Nintendo to maintain Wii pricing at $249 until the company sees signs that demand is slowing, which means a price cut may not happen until late in the year, if at all."
So the price war continues. Provided Sony really does issue that price drop, it will probably start the ball rolling again, and the competition will heat up once more. We'd like to think Sony will issue the drop to go along with a major software release, but we're not sure which one... Stay tuned for more developments.
1/12/2009 Ben Dutka