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Pachter: Sony will cut PS3 price before October 1 if console sales keep crashing

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Wedbush Morgan super-analyst Michael Pachter has predicted that Sony will cut PS3's price before October 1 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.

"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.

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Patrick Garratt

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Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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