With the new generation of consoles out now, it’s a safe bet to assume that the prices of the older ones are set to drop soon. They’d be a great purchase for somebody – say a PC gamer - who’s always wanted some of the exclusive games, or people new to the world of videogames. When are they going to get cheaper?
According to analyst and soothsayer Michael Pachter, we could see a US price drop as earlier as February, with the lower prices to trickle down to the rest of the world soon thereafter. and the impetus for that price cut will come from game publishers.
“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.’” Pachter says in the latest episode of GameTrailers panel show Bonus Round. “So my bet is: February, price cut happening, because I actually think the publishers are gonna threaten to not support the PS3 and 360 this Holiday – Holiday ’14 – if they don’t see a price cut quick.”
He believes that platform holders could cut prices and and still make money – and that there’s a large, untapped market of gamers still playing on PS2’s and Wii’s who could upgrade to newer systems. Plus, there’s a whole, nearly 10-year long library of fantastic games to play, most of which could be picked up pretty cheaply right now.
“The good news is: Microsoft can cut to $199 in a heart beat and they 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 think that’s great for consumers. 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. I think that’s a good opportunity for ten million or more of them to trade up, so that’ll be good.”
Those of you who don’t own consoles, or those who only have just the one; would you consider getting a PS3 or Xbox 360 if the price came down?
Last Updated: January 20, 2014