Wedbush Morgan's senior analyst Michael Pachter has predicted that Sony will take a bite out of their price point if sales in the US for hardware continue to decline.
He says Microsoft and Sony will be "forced to consider" price drops before the end of the year, with it likely being a "cut by $50". Software bundles should help Sony's PS3 demand.
"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," said Pachter.
"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." The Nintendo Wii is finally believed to be losing it's near untouchable demand with consumers.
"It is likely both manufacturers will cut by $50, with Sony making up any lack of increased demand with a software bundle," he continued, adding, "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."
The analyst also gave his predicts of US console sales for June, ahead of the NPD's figures which publish this Thursday. Wii at 350,000, Xbox 360 at 225,000 and PS3 at 165,000. Bring paid to guess... awesome.
PS3 price cut "by October 1" if US hardware sales continue to slide
13 July 2009 | By Simon Priest