News Article

Pachter: PS3 Price Cut "Likely" At E3

Posted by Sammy Barker

Peering into the crystal ball

Seasoned video game industry analyst Michael Pachter believes a PlayStation 3 price cut will be announced at this year’s E3.

Sony’s primary home console is a cut away from the magic $199 mark in the US – a price-point which prompted PS2 sales to catapult last generation.

Speaking ahead of this week’s March NPD report, Pachter said:

We expect hardware sales to rebound once price cuts are implemented, but expect a recurrence of the dip next holiday, partially buffered by some modest contribution from the introduction of the PS Vita in February and the Wii U later this year.

PS3 hardware sales should continue to lag those of the Xbox 360, and we expect sales to trend downward by 10 - 20% monthly, until Sony cuts prices once again, likely at E3.

Sony’s used GamesCom as a venue to announce PS3 price drops in the past, prompting renewed enthusiasm going into the crucial holiday period. Due to the timing of the show, a significantly earlier E3 announcement would depend on the company’s wider marketing plans for the rest of the year.

Personally, we think Sony will wait until after E3 to announce the PS3’s latest price cut — probably opting for the now predictable venue of GamesCom once again. One thing’s for certain, though: the console’s definitely hitting $199 at some point this year.

[via gamesindustry.biz]

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User Comments (5)

James

#2

James said:

At the moment PS3 starts at $249.99 US. Of course it infamously launched at $599 five and a half years ago :)

rjejr

#3

rjejr said:

I bought my PS2 when it hit $199 but it had more to do with the release of FF10 if memory serves. I also think it was about 2 years after launch. The PS3 sold last holiday for $199 w/ a couple of games, I don't see how a $199 price drop would spur sales now. Not saying it won't happen or it's a bad thing, just that the release of the slim and the $299 or $249 price probably would have brought in most of the holdouts, especially with the release of games like GOW3 and Uncharted 2 and 3. There are probably more people waiting to buy a PS3 when Last Guardian ships (fingers still crossed) than there are people still waiting for a $199 price point. I bought 1 when it was $399 but got it for $250 thanks to Sony Playstation $150 credit card offer and Amazon $100 discount package w/ LBP 1 and 2 BLu ray movies holiday 2008.

CorbsAdmin

#4

Corbs said:

Ah the good old memories. Standing in line outside of EB Games waiting to toss down $600 for the PS3 monstrosity. Good times. :D

bauckster

#5

bauckster said:

Well I am one of the holdouts who just caved and bought a $250 PS3 system. I'm downloading demos like crazy! So far, I have not been disappointed. Frankly, I think too much stock is placed in Pachter. He is frequently wrong, but I guess he enjoys making bold statements or something :P

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