Analysts have agreed that we won't see the PS2 dropped to $99 in the near future in the US as the demand is still high. One analyst believes that once the PS3 it is compelling content like 'Guitar Hero' and 'Rock Band' that keeps the demand for PS2s up.
To quote: On Thursday evening, Pachter left us a voicemail, in which he said:
The real reason we haven't seen a $99 PS2 is that demand hasn't dropped enough for Sony to justify the price cut. Compelling content like 'Guitar Hero' and 'Rock Band' keeps the demand for PS2s up. I saw a 'Guitar Hero' PS2 bundle at Best Buy a couple of months ago for $189.
They're discounting 30 bucks if you buy the two together. I think games like that -- that are kind of a one-off for people who haven't played a PS2 game before and will [make them] say 'Hey, I can buy a PS2, why not?' -- [will help keep the price where it is.]
As long as you've got a couple hundred thousand PS2s a month selling, Sony doesn't feel compelled to make the cut. I think you will get the cut, because, frankly, Sony wants to differentiate the PS3. I think the PS3 comes down to $349, maybe $299 if they can afford it.
But they've just been selling four to five million PS2s a year in the U.S. so there's no reason to cut the price until it drops to two million. It really is just demand-driven.
PS3's are shiny and all, but...the PS2 can have a hard drive too. And I can do more with my HDD in my PS2, plus my HDD is bigger than the ones in the PS3's... Seriously though. There are so many GREAT games for the PS2, end user hacks are far better supported at this time, and a decent PS2 setup with games is so much cheaper than a PS3. It only makes sense that there is still a strong market for such a great system. I just bought another PS2 about two weeks ago, so I'm another customer proving Sony's point.