PS3, Xbox 360 price cut announcement likely for E3 - analyst

by Gaetano 'Xbot' Prestia Featured 15 Comments 25 Votes 1534 Views 10/04/2012 Back to News

Sony is likely to announce a price-cut for PlayStation 3 at E3 in June, according to Wedbush Securities analyst Michael Pachter.

Sony and Microsoft seem unlikely to steal the limelight away from Nintendo and its upcoming Wii U console, which will undoubtedly take center stage at the June expo in Los Angeles.

But Mr Pachter believes that a Nintendo hardware price cut may force the hand of both Sony and Microsoft to drop the prices of their current consoles.

"We expect hardware sales to rebound once price cuts are implemented," explained Mr Pachter, "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."

He also believes that PS3 sales will "continue to lag" behind Xbox 360 sales, with a downward trend of 10-20 per cent likely, until Sony announces a price cut.

An upcoming NPD by Wedbush for March sales data is set to reveal a fourth consecutive month decline, with software sales down 23 per cent in North America.

Source: Games Industry

By Gaetano Prestia - Tweet @Gaetano_Prestia

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PS3, Xbox 360 price cut announcement likely for E3 - analyst Comments

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I'm expecting the price of the Wii to plumment with the WiiU announcement.

Foetoid said: I'm expecting the price of the Wii to plumment with the WiiU announcement.



I'm not sure how a Wii price cut would influence a PS3, 360 price cut though. I'd think a price cut for them would happen anyway.

Wii U at $400+ will hurt Nintendo imo.

EDIT: US price of course.

Beta said: Wii U at $400+ will hurt Nintendo imo.
EDIT: US price of course.


Well if the rumours of specs are true (CPU/GPU more modern but not top of the line, more RAM) then I'd expect US$300-$350.
After the 3DS price cut Nintendo will not be greedy, they will take minimum profits or a loss from the hardware.
$400 US would be pushing it. It could be the same folly as the 3DS.

renagadez said: $400 US would be pushing it. It could be the same folly as the 3DS.



Nintendo have already stated their not going to make the same mistakes they did with the 3DS. So it'll be definitely first party content at launch (likely Pikmin 3) and a price point that may make them a loss at first. Reports coming in lately are saying that Nintendo is more willing to make revenue from other streams like downloadable games and video streaming, and therefore making a loss on the console isn't as bad for them now. I'm going to guess $299.95 US price and $399.95 Australian price. Though i could see it as high as $449.95 Aus, i'm still willing to pay $499 if i have to.
Metroid >>>> Pikmin.

If they want a "core" crowd, and they want their online to be relevant, they need a first-party online game that is going to appease to the common COD player.

Pikmin is great, but it ain't a console seller.

Beta said: Metroid >>>> Pikmin.
If they want a "core" crowd, and they want their online to be relevant, they need a first-party online game that is going to appease to the common COD player.
Pikmin is great, but it ain't a console seller.



wiiublog.com/...

Reports are that Nintendo is working on at least 3 new IPs and have 10 or 11 titles they want to show off for WiiU at E3 of their own.
Well, regardless of what they have first party titles or not, I will be getting this.
If the Xbox 360 gets a price cut then I'll probably get one, good time for Halo 4. [Derp]

renagadez said: Well, regardless of what they have first party titles or not, I will be getting this.



Absolutely i'm paying off my preorder as we speak. Only for $150 on it at the moment though.

Foetoid said:

renagadez said: Well, regardless of what they have first party titles or not, I will be getting this.


Absolutely i'm paying off my preorder as we speak. Only for $150 on it at the moment though.


lol Sweeet! I'm going to wait until I see a few deals pop up. =]
There's a rumour that retros title is "aggressively targeting the hardcore crowd".

Blob said: There's a rumour that retros title is "aggressively targeting the hardcore crowd".



Metroid online would blow me away.

I'm waiting for more details and a launch lineup before I pre-order. I'm excited, but Nintendo doesn't get me that easily.
Blob
+
Using it as a handheld to play SNES/N64 games while watching tv is enough for me to get it day one :P

Blob said: Using it as a handheld to play SNES/N64 games while watching tv is enough for me to get it day one



I never thought about it like that. ;O

I hope they have the eShop ready on launch this time. =D

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