Pachter: PS3 Price Cut by October if Console Sales Keep Crashing
Wedbush Morgan analyst Michael Pachter has predicted that Sony will cut PS3's price before October 1, 2009 if US hardware sales continue to slide.
Speaking in a note today, Pachter estimated that US Wii, 360 and PS3 sales will show a year-on-year decline of 43 percent for June.
To quote: "We think that the console manufacturers will therefore be forced to consider a price cut before year-end, with Sony cutting the PS3's price by October 1," he said.
"Further, we do not think that Nintendo's hardware forecast figures are achievable without a price cut, and we expect one around the same time as the PS3 price cut.
"It is likely both manufacturers will cut by $50, with Sony making up any lack of increased demand with a software bundle.
"We expect Microsoft to follow suit, giving us confidence that US software sales will grow later in the year, notwithstanding negative sales in the early part of the year."
Pachter predicted sales of 350,000 Wii, 225,000 Xbox 360 and 165,000 PS3 consoles in June today. The June NPD releases this Thursday.
More PlayStation 3 News...
In all honesty I think anybody can get paid to predict what companies will do, and in my opinion I get tired of hearing this guys predictions cause anybody can pull out the same stuff that he does.
ARRRggHHH I think I'm experiencing a deja vu?
This is like predicting when the end of the world will take place. No one knows...
Besides that they've already been predicting a price drop since 2007. While time passed by their prediction(s) became useless and we still haven't seen a price drop. Or actually we did, they brought a few new versions into the market: 40GB and 20GB which were cheaper then the original 60GB.