News Section Logo NEWS - Return to news section

 

Analyst Predicts PS3/Xbox 360 Price Drop In February

Posted by: , 11:03 AEDT, Thu January 23, 2014

Permanent Link     Add Comments
Could the Xbox 360 and PS3 both see a price drop in February? Wedbush analyst Michael Pachter believes so, with game publishers the ones pushing for a quick price cut in a bid to keep the Xbox 360/PS3 relevant
News story feature image
Image/Photo Credit: schreiblockade @ Flickr, CC

Wedbush Securities analyst Michael Pachter predicts that a price drop for both the Xbox 360 and PS3 is coming sooner than you think.

Speaking on Gametrailers's Bonus Round Videocast, Pachter believes game publishers are worried that the next-gen consoles, the Xbox One and PS4, will cannibalize game sales for the older consoles. A price cut could then extend the life of both consoles.

Pachter believes that publishers are so concerned about this that they will threaten Microsoft and Sony and force through a price cut, to be deployed as early as February.

"I think the publishers are going to threaten the manufacturers, and they’re going to say 'cut the price of the PS3 and the Xbox 360, now.' So my bet is: February, price cut happening, because I actually think the publishers are gonna threaten to not support PS3 and 360 this Holiday…Holiday '14 - if they don't see a price cut quick," says Pachter.

Pachter also believes that both Sony and Microsoft will acquiesce to this request, simply because both companies can afford to do so.

"The good news is: Microsoft can cut to 199 in a heart beat and won’t lose any money. I mean it'll cost their profit. And Sony can do the same, they both have manufacturing down there, and I think that's great for consumers. There are still a hundred million Wii owners out there, probably three quarters of whom have never considered owning a PS3 or a Xbox 360. That's a good opportunity for ten million or more of them to trade up, so that’ll be good," explained Pachter.

Recently released U.S. sales figures for December showed that Xbox 360 sales dropped 54% from a year ago, with the Xbox One selling 1.4 times as many units during the same month. PS3 sales have similarly dropped, to under 300,000 units for December.


Comments:

Related News:

News Icon Sony Not Making PS3 Launch Mistakes, PS4 Will Be Cheaper, Plus $99 Xbox 360

posted by: Sean F, 18:47 AEST, Thu April 18, 2013

News Icon Microsoft Unveils Next-Gen Console: Xbox One

posted by: Sean F, 15:19 AEST, Wed May 22, 2013

News Icon Sony May Be Ready To Unveil PS4, As More Details Emerge

posted by: Sean F, 12:41 AEDT, Mon February 18, 2013

News Icon PS4 First Day Sales: A Million Units in North America, Amid Faulty Console Concerns

posted by: Sean F, 23:16 AEDT, Tue November 19, 2013

News Icon Xbox One Tops U.S. Next-Gen Console Sales In December

posted by: Sean F, 10:37 AEDT, Tue January 21, 2014

 


Polls

Which game consoles do you own and still play?

Microsoft Xbox 360
Nintendo DS
Nintendo Wii
Sony PS2
Sony PS3

View Results