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Analyst: Publishers could force Microsoft, Sony to cut prices for Xbox 360, PS3

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With pressure from video game publishers, one analyst believes Microsoft and Sony may slash prices on current-gen consoles Xbox 360 and PlayStation 3 as early as next month, according to a report today from VG 24/7.

Michael Pachter, an analyst from Wedbush Morgan, said Sony and Microsoft could feel the force of game publishers to slash the prices of the Xbox 360 and PS3 as they start turning toward developing for the recently launched next-gen consoles Xbox One and PS4.

Pachter, as a panelist on the GameTrailers show Bonus Round, said, “I think the publisher are going to threaten the manufacturers, and they’re going to say, ‘Cut the price of the PS3 and the Xbox 360, now.’”

Publishers may threaten to not support the current-gen platforms during the next holiday season, Pachter said, if prices aren’t lowered quickly –– as in within the next month.

Pachter said both Microsoft and Sony could drop prices for the Xbox 360 and PS3 pretty significantly –– $199 –– and quickly, with the added bonus of potentially taping into Nintendo’s market share with the Wii.

“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,” Pachter said. “I think that’s a good opportunity for 10 million or more of them to trade up, so that will be good.”

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