- Now that it's in a price-cutting
mood, analysts tracking Sony Corp. (SNE) say the company is more likely than ever before to lower the price of its flagship PlayStation 3 videogame system sometime this year.
To quote: Sony's computer entertainment division announced Tuesday it will lower the price of its PlayStation 2 console to $99.99. The PS2 was released in 2000.
Sony hopes the 23% price cut, which takes effect Wednesday, will sustain the life of the PS2, which it says has sold more than 136 million units worldwide since its launch.
Critics contend Sony now needs to lower its PS3 prices for a number of reasons, starting with staying competitive with Microsoft Corp. (MSFT), which saw sales of its Xbox 360 jump after lowering the price and bundling the system with games in early September.
PS3 price-cut pressure increased in December, when analysts said Sony might not reach its goal of selling 10 million PS3 consoles through March without a price reduction, as sales for the hardware dropped despite gains by competitors. March videogame console sales results won't be available for another two weeks, a Sony spokesman said.
Meanwhile, the company is in the midst of...