Pachter apologizes for PSP Go “ripping-off” comment
Michael Pachter can be quoted for a lot of big claims, most recently his “ripping-off” comment against the PSP Go. Speaking to Industry Gamers about the controversial statement, the Wedbush Morgan analyst admits to poor choice of words, adding a full explanation and an apology to set things straight. Read the entire apology after the jump.
Michael Pachter can be quoted for a lot of big claims, most recently his “ripping-off” comment against the PSP Go. Speaking to Industry Gamers about the controversial statement, the Wedbush Morgan analyst admits to poor choice of words, adding a full explanation and an apology to set things straight.
Michael Pachter’s apology:
As long as you’re giving me a forum, may I please beg your indulgence for a statement? I sincerely regret the choice of words in my response to Geoff Keighley‘s question in last week’s Bonus Round, where I said that Sony is “ripping off” the consumer by pricing the PSP Go at US$ 249.99. I made a poor choice of words, and I do NOT think that Sony is doing anything nefarious in choosing their pricing strategy.
The company has the right to price its products at a point that they think is competitive, and has no obligation to sell products at lower than a competitive price. They have been subsidizing purchases of the PS3 since launch, to the tune of 22 million sold at a loss of $100 or more apiece (on average), so if they are able to make a profit on the PSP Go, more power to them. They are pricing at a point that positions the PSP Go competitively with the iPod Touch, and the PSP Go arguably has much more value than the Apple product.
Notwithstanding my view that the price point is too high to generate more than a few million units sold, I really think my comment was unfair, and would appreciate your allowing me to clear the air on IndustryGamers.com.
Fair enough. The PSP Go has weathered (and still weathering) its share of criticisms since its E3 unveiling, and despite Pachter’s apology, the US$ 249.99 price tag remains a pricey purchase. Whether or not it can successfully compete with the iPod Touch is another story, and we’ll be checking the sales figures to find out.
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