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Pachter: PS3 Price Cut by October if Console Sales Keep Crashing

250°
263w ago - Wedbush Morgan analyst Michael Pachter has predicted that Sony will cut PS3's price before October 1, 2009 if US hardware sales continue to slide.

Speaking in a note today, Pachter estimated that US Wii, 360 and PS3 sales will show a year-on-year decline of 43 percent for June.

To quote: "We think that the console manufacturers will therefore be forced to consider a price cut before year-end, with Sony cutting the PS3's price by October 1," he said.

"Further, we do not think that Nintendo's hardware forecast figures are achievable without a price cut, and we expect one around the same time as the PS3 price cut.

"It is likely both manufacturers will cut by $50, with Sony making up any lack of increased demand with a software bundle.

"We expect Microsoft to follow suit, giving us confidence that US software sales will grow later in the year, notwithstanding negative sales in the early part of the year."

Pachter predicted sales of 350,000 Wii, 225,000 Xbox 360 and 165,000 PS3 consoles in June today. The June NPD releases this Thursday.
 

SCEA President on Price Cut: PlayStation 2.5 for $299, Not PS3

200°
263w ago - During a recent [Register or Login to view links], President of Sony Computer Entertainment America Jack Tretton reinforced Sony CEO Howard Stringer's views on a PS3 price cut.

To quote: "We could've come out with a PlayStation 2.5 for $299 or less, and in the first two or three years it would sell extremely well," he explains.

"But there would be a point where people would be going, 'I am not really seeing the incremental leap.'"

"People are having short-term thinking–the platform is not even three years old," Tretton adds. "It was $599; it's now $399." He goes on to say that Sony isn't planning to snare all customers in day one, but over a ten year period.
 

Sony CEO Howard Stringer Scoffs at PS3 Price Cut Rumors

250°
263w ago - Despite top industry sources reporting that a PS3 price drop is coming, Sony's CEO Howard Stringer continues to brush brushed off concerns that the PlayStation 3 video game console is too expensive.

To quote: Stringer described recent comments about PlayStation's price by Robert Kotick, the CEO of video game publisher Activision Blizzard Inc, as standard business tactics.

"He likes to make a lot of noise," Stringer said, when asked about the comments. "He's putting pressure on me and I'm putting pressure on him. That's the nature of business."

Last month, Kotick told the Times of London that Activision might cease developing games for the PlayStation if Sony did not cut the price of the console, which competes with Microsoft Corp's Xbox and Nintendo Co Ltd's Wii.

"When we look at 2010 and 2011, we might want to consider if we support the console," Kotick had said.

Asked about the logic of not cutting prices, Stringer said, "I (would) lose money on every PlayStation I make - how's that for logic."
 

Industry Mole Says PS3 & XBox 360 Price Drops Coming This Fall

500°
265w ago - According to Arstechnica's favorite inside source, a price drop is coming to both the Sony PS3 and Microsoft XBox 360 consoles this fall.

To quote: Since we can't name the source, we're treating all this information as rumor, but the Mole's reputation in the industry for breaking large stories and outstanding track record for accuracy speaks for itself.

The 80GB model is going to see some serious hardware constraints in the weeks ahead, and retailers have about 60 days worth of inventory before the systems will become hard to find. Expect to see many more 160GB units on store shelves.

Those units have no constraints yet, but if the retailers sell through that supply as quickly as they did the 80GB, Sony is in a good place for the final part of its plan in 2009: dropping the price of hardware and launching the PS3 Slim in the fall.

Expect the Xbox 360 Pro to disappear in July or August, but you're going to see some solid bundles to get those systems moving off store shelves. The Halo 3/Fable 2 bundle the Mole previously tipped us off to shows that Microsoft is willing to put some good games into the box to get people buying.

So what are we going to do without...
 

GameStop: PS3 Price Cut in 2009 is 'Highly Likely'

400°
266w ago - GameStop has revealed via IGN that it believes a PS3 price cut in 2009 is highly likely.

According to them, a Wii price cut is also expected this year.

To quote: Executives at major retailer GameStop have weighed in with their console predictions for the remainder of 2009, expecting both PlayStation and Wii to receive a meaningful price cut before the year is out.

That's according to a research note from analyst Arvind Bhatia of Sterne Agee, following a meeting with key GameStop executives.

As reported by Gamasutra, GameStop cites the slowing of sales for both Nintendo and Sony's consoles, with PlayStation 3 in most urgent need of attention.
 
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