PlayStation 3 Price Cut Coming After PlayStation 4 Announcement, Analyst Says

Wedbush Securities analyst Michael Pachter has revealed that, after the possible PlayStation 4 announcement later this week, on February 20, Sony will confirm a price cut for the current PlayStation 3 console.

Sony is expected to finally reveal to the world its next-generation console – the PlayStation 4 – on February 20 during a special event in New York City.

In between rumors and speculation about the actual console, its features and its controller, Wedbush Securities Michael Pachter has revealed, via GamesIndustry, that Sony will almost certainly implement a price cut for the PlayStation 3 after the confirmation of the PlayStation 4.

According to Pachter, a price cut is needed to keep people interested in the PS3 until it is released later this year.

What's more, Microsoft is expected to do the same at E3 2013, as it will no doubt present the next-gen Xbox 720 and discount the current Xbox 360.