Japanese analysts believe Sony should follow Nintendo's lead and lower the PS Vita's price.
"Gamers are increasingly anticipating Sony to lower prices, especially after the 3DS cut,” Ace Securities Co's Hideki Yasuda toldBloomberg.
“Sony is under major pressure to cut the price of the Vita or risk a major failure."
SMBC Nikko Securities' Kazuharu Miura, who had previously predicted Vita sales of 2.5 million by the end of March, echoed this message.
“If strong titles aren’t there for Vita, there is a risk I might have to cut my estimates,” he said.
On the other side of the fence, Nomura Holdings Inc's Shiro Mikoshiba said Sony has a different audience and doesn't need to ape Nintendo.
“The customers Sony is targeting with its Vita are those willing to spend a lot of money. That’s a valid strategy even if the volume’s low as long as it can sustain the higher price," he said.
Predictably, Sony agrees.
"We have a very good product at a very affordable price. There’s no need to lower the price just because somebody else that happens to be in the video game industry decided they were going to," Kazuo Hirai responded.
Following grim financials and the console's under-performance, Nintendo announced a significant, global price cut for the 3DS last week.