Sony eyes massive PS3 price cut as EA preps Madden NFL 10
San Francisco (CA) - Sony is reportedly eyeing a $100 price cut for its high-end Playstation 3. According to Industy Gamers, the price cut could be timed to coincide with EA's (Electronic Arts) release of Madden NFL 10 in August.
"Industry sources indicate Sony is planning a $100 price cut on the PS3 in mid-August, just prior the launch of Madden (8/18) and the start of the back to school shopping season. This will naturally be a positive for the industry," wrote Sterne Agee analyst Arvind Bhatia in an industry note.
Bhatia also stated that the video game market was "alive and well."
"While software sales for the first half of 2009 are expected to be down mid-single-digits, we believe the second half, in contrast, will likely be up 10 to 15 percent driven by a robust lineup, easier comparisons and potential price cut(s)," said Bhatia.
An 80 GB PS3 currently retails for approximately $400, while an Xbox 360 with a 60GB HD is available for $300. Nintendo's Wii console is considered the most affordable option at $250.
As TG Daily previously reported, Sony fans are eagerly awaiting a number of new titles, including:
- Final Fantasy XIII
- Final Fantasy XIV Online (MMORPG)
- Assassin's Creed II
- Gran Turismo 5
- Trico - The Last Guardian
- Mod Nation Racers
- God of War 3
A significant PS3 price cut could pose a serious threat to sales of Microsoft's Xbox 360 and Nintendo's Wii. The two corporations may be forced to reassess current price points in an effort to compete with a more affordable Blu-ray console.