Janco Partners’ Mike Hickey said in his latest note to investors that Sony should start looking at cutting the price of its PlayStation 3 console, with a cut of up to $100.
”Recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days,” said Hickey.
”We think the company needs to reduce the current price by USD 100 to effectively restart unit velocity at retail. We believe the market is expecting a PS3 price cut in April or by June at the latest,”
Hickey warned that if Sony doesn’t cut the price soon, it could see publishers accelerate their reallocation of resources away from the PlayStation 3, which would drop the number of exclusives and there for dropping hardware sales overall.
”If Sony does not cut the price of their console, we expect the continuation of languishing PS3 hardware sales and the potential for publishers to accelerate their reallocation of resources away from the PS3 console.” said Hickey.
Do you think Sony will make a price cut announcement? We hope so, but let us know what you think below.
More on this soon, hopefully.
