Pachter: Xbox 360 and PS3 Price Cuts Could Happen in February
Publishers might cease to support both formats unless price cuts are made.
During Bonus Round on GameTrailers, Wedbush Morgan analyst Michael Pachter talked about a price cut for PS3 and Xbox 360 this February. Essentially, as more developers move to next gen consoles, there will be more pressure on the current gen systems to try and stay relevant with price cuts.
“I think the publishers are going to threaten the manufacturers, and they’re going to say ‘cut the price of the PS3 and the Xbox 360, now.’ So my bet is: February, price cut happening, because I actually think the publishers are gonna threaten to not support the PS3 and 360 this Holiday – Holiday ’14 – if they don’t see a price cut quick.
Not that cutting prices will affect either company too much. “The good news is: Microsoft can cut to $199 in a heart beat and they won’t lose any money … I mean it’ll cost their profit. And Sony can do the same, they both have manufacturing down there, and I think that’s great for consumers. There are still a hundred million Wii owners out there, probably three quarters of whom have never considered owning a PS3 or a Xbox 360. I think that’s a good opportunity for ten million or more of them to trade up, so that’ll be good.”
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