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PS3 price cut in April, analyst predicts (CVG 13/1/09)

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PS3 price cut in April, analyst predicts (CVG 13/1/09)

Post by VampiricPadraig on Tue Jan 13, 2009 7:32 pm

Wedbush Morgan's veteran analyst Michael Pachter anticipates that the 80GB edition of the PS3 will see its price cut by a huge figure this April, dropping from $399 to $299.

Along with this, he believes that Microsoft will announce in June, the month in which E3 takes place, that the price of the 360 Pro edition (oft called 'Premium') will fall $50, taking its retail value to $249. Pachter adds that the Wii - for obvious reasons - will not see a price cut.

"Once the PS3 is at a more affordable price point, we think that sales of that device will once again begin to grow" Pachter said in a note to investors.

Neither Microsoft nor Sony has claimed a price drop will occur.

Pachter also endorsed the estimates made yesterday by Jesse Divnich that the Wii will have sold a staggering number of units across America in December, predicting that more than 3.25 million units had been sold during the Christmas month.

Pachter differed, however, with the many commentators who believe that 2009 will be a rocky year for the game industry: "We think that concerns about weakening consumer demand for videogames are overblown," he said, adding that "in our view, the best indicator of future demand is hardware unit sell-through."

In regards to that sell-through, Pachter again reflects the belief of Divnich that hardware and software sales will have soared last month, improving on 2007's December retail performance by some17 percent.

"This bodes well for continued software sales growth, as a large installed base of hardware households is likely to continue purchasing some software, while new console households are likely to buy software to accompany their hardware purchases," he added.

NPD data on the platform holder's sales performance in December is expected on Thursday.

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