Sony Steadfast with PS3 Price Point, Analysts Believe Price Drop Will Come When PS4 Announced
Despite Microsoft, Corp. (NASDAQ:MSFT) and Nintendo Co. Ltd. (PINK:NTDOY) announcing reduced prices for their respective present-generation gaming consoles, Sony Corp. (NYSE:SNE) has repeatedly refused to cut the price of its PlayStation 3.
This has befuddled many market analysts, who believe it is high time that Sony announces some sort of price reduction. On the other hand, this may also be a sign the PlayStation 4 may be announced very soon, probably early next year.
Robert W. Baird analyst Colin Sebastian said that the timing of the PS3’s price cut will be relative to the projected announcement of the PS4, which he believes would take place in early 2013; that said, he’s hoping Sony would relent and slash prices in Q4 2012.
In the meantime, Sony may possibly focus on its hardware bundles for the December ending quarter, as this would be the time holiday shoppers prefer for Black Friday and Christmas. According to EEDAR’s Jesse Divinich, there may indeed be a lot of bundles offered by Sony, possibly those with “AAA titles”, meaning popular and hot-selling video games.
As for the PS4’s launch date, National Capital Alliance analyst Michael Hickey opined that it would behoove Sony to release the PS4 “next year” as Sony is “in a position now where they don’t want to take any more losses.”
He is of the belief that Sony’s resources should be used towards getting the PS4 “up to speed” and ready to launch sometime in 2013.