updated 10:35 am EDT, Tue June 9, 2009
$100 PS3 price cut rumored
Sony is rumored to be getting ready to drop the price of its PlayStation 3 gaming console to coincide with the next release of EA Sports' Madden this fall, according to a Monday IndustryGamers report. Sterne Agee analyst Arvind Bhatia notes that Madden is due for an August 18th release and claims that "industry sources" know the console should lower in price in time for the game's appearance, which could potentially boost sales.
With the PS3 widely criticized for being priced too high compared to its rivals from Microsoft and Nintendo, a reduction is considered by many to be what Sony needs to accelerate not only sales of its own console, but those of its Xbox 360 and Wii rivals as well.
"While software sales for the first half of 2009 are expected to be down mid-single-digits, we believe the second half, in contrast, will likely be up 10% to 15% driven by a robust lineup, easier comparisons and potential price cut(s)," Bhatia noted.