As the next-generation console race leaves Sony’s PlayStation 3 in the dust the problem is not with the console, it’s with the price tag. With a starting price of $399, the console’s bells and whistles just haven’t been enough to move the PS3 off the shelves. This could change in April.According to industry analyst Michael Pachter from Wedbush Morgan Securities, Sony is likely to drop the price of the console to a sweet $299. This would better position it against the Wii and the Xbox 360 in terms of investment.
“Once the PS3 is at a more affordable price point, we think that sales of that device will once again begin to grow,” Pachter is quoted as saying.
Pachter is convinced the price cut is necessary to make the PS3 more attractive in a market where consumers are forced to hang on to every penny they have. He also expects Microsoft to drop pricing on its Xbox 360 even more.
If Pachter is right, 2009 could shape up to be an interesting year for gamers who have yet to jump on the next-gen bandwagon.
The question is whether or not a PS3 price cut would come soon enough to balance out the financial losses Sony has faced, in part, due to the PS3. The console costs almost $450 to make, which means game sales would have to be extremely high to make up for the loss of another $100 in entry price.
Add to this the prediction that Microsoft will further slash the 360’s price and it might just turn out to be an even bigger hit for Sony. While it technically has the most impressive of the next-gen machines, players still want value. The 360 already offers this with its most recent price tag sweetening the deal. Put another cut out there and Sony could be very hard-pressed to compete.
Although a price cut would make the PS3 a whole lot more attractive, it just might be a case of a little too little and a little too late.
Regardless, it will be interesting to see how the Big 3 compete in a market where value and pricing suddenly matter a whole lot.
Nods to Xbit
Related:
Sony Scrambling To Make PS3 Sales
Xbox 360 Scores Big In 2008
Sony Adds More Proof That Gaming Industry Isn’t Immune
Labels: microsoft, nintendo wii, ps3, sony, xbox 360
