Published on February 26th, 2009 | by James Smythe0
Rumour: PS3 Price Cut Soon
Mike Hickey from Janco Partners, a set of Analysts, is claiming that Sony needs to hack $100 off the price of the PS3 [bringing it down to $299] to make it more popular with cash-strapped consumers and that the cut is imminent.
In a note to investors, Hickey wrote:
“Recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days. 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.”
Without the cut, he argues that the PS3 will clog up shelves and developers will abandon it.
“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.”
Hickey also points to additional rumours that Sony is planning to introduce a PS3 without the Blu-ray drive in order to compete at the low-end with the likes of the Xbox 360. We really don’t see that happening though.
Sony has since come back and said it “definitely has no plans” to issue a price reduction anytime soon and that it’s still on target to hit 10m units sold for its fiscal year.