14 DAY TRIAL // After both Microsoft and Nintendo lowered their prices for the Xbox 360 and Wii consoles, respectively, analysts believe that Sony needs to discount the PlayStation 3 in order to stand a chance against its rivals this holiday season.
Sony introduced a redesigned version of the PlayStation 3, the so-called Super Slim, last month and, surprisingly, it didn’t lower the price of the new home console.
This was criticized by several games industry analysts at the time and now, after both Microsoft and Nintendo have presented lower-priced bundles, the same analysts believe Sony will be defeated this holiday season if it doesn’t discount its console.
"It's good to see price cuts on Xbox 360 bundles in addition to the lower Wii pricing,” Inside Network analyst Billy Pidgeon told GamesIndustry. “This should help increase industry revenue for 2012 [but] PS3 could stand to lose more market share. I'd like to see Sony bring down PS3 prices to better compete with Xbox 360.”
IDC Research Manager Lewis Ward, however, believes that, given the PS3 price cut made last year, Sony won’t move to discount it further this holiday season.
"Sony dropped their console prices $50 in 3Q11 so I don't expect another price cut this holiday season. I don't think Sony will have terrible game sales results this holiday season but I also won't be surprised if they come in 3rd when it's all said and done.”
Colin Sebastian of RW Baird, however, believes that Sony will announce a price cut possibly ahead of the PlayStation 4’s reveal, which should happen next year.
"Sony needs to drop the price of the PS3, which would be well timed Q4 before the expected announcement of the PS4 sometime in early 2013," he said.
As of yet, Sony hasn’t commented on the price cuts of its rivals, so it’s unclear if the company will announce any discounted bundles in the following weeks.