Analyst Michael Pachter on second PS3 price cut

Sony announced a US$ 100 price cut some months ago to move the 60 GB version of their PS3 consoles. This strategy provided a well-needed surge in PS3 sales, even besting hotselling Wii for the top spot for a time. With Microsoft recently confirming their own Xbox 360 price-cut, and with Wii sales again picking up, some are speculating that Sony should make make another round of PS3 price cuts to maintain its momentum.

As much as we all want that to happen, it appears another drop in the price tag of PS3 units is unlikely, at least until early next year. According to Wedbush Morgan analyst Michael Patcher, it’s too soon for a second PS3 price cut especially since the big guns – the console-moving PS3 exclusives – are coming out on 2008. This leads him to “expect Sony to be in a position to cut the price of the PS3 in early 2008,” around the period when Metal Gear Solid 4: Guns of the Patriots hits video game stores.

He however thinks that “a price cut for the PS2 is possible” before the holidays, owing it to Sony’s goal of making sure that its highly successful console will still take some considerable slice from the video games market. “Any hardware price reduction could serve as a catalyst for sales growth later in the year,” Patcher finalized.

Sony announced a US$ 100 price cut some months ago to move the 60 GB version of their PS3 consoles. This strategy provided a well-needed surge in PS3 sales, even besting hotselling Wii for the top spot for a time. With Microsoft recently confirming their own Xbox 360 price-cut, and with Wii sales again picking up, some are speculating that Sony should make make another round of PS3 price cuts to maintain its momentum.

As much as we all want that to happen, it appears another drop in the price tag of PS3 units is unlikely, at least until early next year. According to Wedbush Morgan analyst Michael Patcher, it’s too soon for a second PS3 price cut especially since the big guns – the console-moving PS3 exclusives – are coming out on 2008. This leads him to “expect Sony to be in a position to cut the price of the PS3 in early 2008,” around the period when Metal Gear Solid 4: Guns of the Patriots hits video game stores.

He however thinks that “a price cut for the PS2 is possible” before the holidays, owing it to Sony’s goal of making sure that its highly successful console will still take some considerable slice from the video games market. “Any hardware price reduction could serve as a catalyst for sales growth later in the year,” Patcher finalized.