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PS3, Xbox 360 Price Cut Soon?

According to an article at, Wedbush Securities analyst Michael Pachter says a price cut for PS3 and Xbox 360 this year is very likely – in fact, we'll probably see announcements made at E3 as Nintendo pushes prices down with its Wii U launch.

It's also interesting to note that the Xbox 360 has been outselling the PS3 in the U.S., but this trend is slowing down. Plus, Pachter believes we won't hear about a new Xbox 360 from Microsoft until the console's price is under $200 (about R1500).

"We expect hardware sales to rebound once price cuts are implemented, but expect a recurrence of the dip next holiday, partially buffered by some modest contribution from the introduction of the PS Vita in February and the Wii U later this year. Recent slowing of Xbox 360 hardware sales could cause Microsoft to consider a price cut by E3. We do not expect an announcement of a next- generation console from Microsoft until the Xbox 360 core model is priced below $200, likely around this time next year. PS3 hardware sales should continue to lag those of the Xbox 360, and we expect sales to trend downward by 10 - 20% monthly, until Sony cuts prices once again, likely at E3," he says.

It all comes in the wake of new data we should soon see from the market research firm NPD, which is currently providing a picture of the games industry in the U.S. that looks a bit grim.