OTX's Nick Williams has said that only two out of three people who plan on purchasing God of War III currently own a PS3.
The analyst retrieved that figure from recent company data, and said that if Sony does not address its price point it will continue to face touch times against competitors.
"The price point for the PS3 remains a real problem for Sony", he told Gamasutra.
"Sony execs now find themselves in the precarious position of trying to balance consumer price expectations with the high costs of producing each PS3.
"The launch of God of War III in late 2009/early 2010 will mark a pivotal moment for Sony. But in order to ensure that this game is a hardware sales driver, the cost of the base-level PS3 will need to be in the same ballpark as the Xbox 360 and Wii."
Williams also added that Sony is thinking long term with PS3, and if the company can continue to lower manufacturing costs, consumers can expect another price drop by the end of summer.