Coming off the successful launches of the PS4 and Xbox One, Michael Pachter expects Sony and Microsoft to drop the price of the PS3 and Xbox 360 by a significant margin in fear that publishers will stop supporting the now dated home consoles by the 2014 holiday season. According to a report on VGChartz from Jan. 20, Pachter expects the PS3 and Xbox 360 to receive significant price drops to $199 sometime next month.
During the latest episode of GameTrailer’s Bonus Round, Pachter voiced his belief that both Microsoft and Sony will announce price drop in Feb. for the PS3 and Xbox 360. The reasoning for the price cut is that Pachter feels publishers will threaten to pull support from the PS3 and Xbox 360 for the 2014 holiday season. Find Pachter’s full comment below:
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 going to threaten to not support PS3 and 360 this Holiday…Holiday ’14, if they don’t see a price cut quick.
Furthermore, Pachter feels that Microsoft and Sony could drop the price of their consoles to the impulse buy region of $199 and still turn a profit on each console sold. Given the slowing sales of the Xbox 360 and PS3 in North America, a price drop is surely needed to spark new interest in the two consoles.
The good news is: Microsoft can cut to 199 in a heartbeat and 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 mean that’s great for consumers.
The PlayStation 3 launched on Nov. 2006 in North America. The Xbox 360 was released in Nov. 2005 in North America.