14 DAY TRIAL // Wedbush Securities analyst Michael Pachter has offered his predictions for next week's E3 2014 event, speculating that Sony, Microsoft, and Nintendo will introduce price cuts for their older consoles, i.e. PS3, Xbox 360, Wii U, and Wii.
E3 2014 is set to kick off next week and all major hardware makers have lined up conferences on either June 9, for Sony and Microsoft, or June 10, for Nintendo.
Quite a lot of new games are set to be presented by these companies as well as other large publishers like EA or Ubisoft, and you can bet that most of them will debut for the new PS4 or Xbox One consoles.
However, all three console makers might also announce at E3 2014 price cuts for their older devices, at least according to a new research note from Wedbush Securities analyst Michael Pachter, via NeoGAF.
"We expect price cuts for the Xbox 360 and PS3 in order to jumpstart hardware and software sales," he said, on behalf of the firm. "We believe current-gen weakness has been the primary driver of industry declines over the past 18 months. As a result, we expect Microsoft and Sony to drop current-gen console prices by at least $50 [€50], and to introduce new bundles featuring first and third-party content."
Pachter also mentioned that Nintendo is bound to have a "more subdued E3 than its peers," as the hardware maker will struggle to present any interesting games besides Super Smash Bros. for the Wii U and 3DS.
The analyst also believes that in order to keep the Wii U relevant, Nintendo might debut another price cut and even one for the old Wii.
"We believe Super Smash Bros. will be the most high-profile Wii U release on display, with a broadcasted invitational tournament on Tuesday. We do not expect a lot of compelling third-party content for Nintendo hardware," he said.
"In addition to games, Nintendo may also announce a Wii U hardware price cut of up to $50 to further jumpstart sales, with a Wii hardware price cut to $99 [€99] a possibility as well."
It's going to be interesting to see just what Sony, Microsoft, and Nintendo have in store for their old devices, as you can bet that all of them want consumers to get the newer PS4, Xbox One, or Wii U in order to earn more money via direct sales.
E3 2014 kicks off next week and Softpedia will provide, as always, coverage of the large event.