PS3 price cut just days away?

[+Audioboxer Subscriber²]

Rumor has it that Sony is ready to cut the PS3's price to $299 within a matter of days

GameDaily.com is reporting that Janco Partners analyst Mike Hickey has states that "recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days."

He also added ""Sony is meeting with retailers this week in Phoenix, where SCEA is holding its annual Destination Playstation conference. We think the company needs to reduce the current price by $100 to effectively restart unit velocity at retail"

It seems as if this rumor could be true. We'll keep you informed in the coming days.

Source: http://gamingfront.net/news/268/ps3-price-...just-days-away/

Funny thing is as I pointed out in the new PSP games topic, every rumour here [from a supposed SCE annual meeting] - http://www.dpadmagazine.com/2008/11/22/hug...y-info-blowout/ - has now come true apart from the PS3 cut in March.... and March is days away.

So a heads up, I wouldn't buy a PS3 over the next few days, even although KZ2 is just coming out :pinch:

[Dc'1]

There is a million and 10 of these rumoured price drops, they never come true :(

[+Audioboxer Subscriber²]

There is a million and 10 of these rumoured price drops, they never come true :(

So it's on, either you eat your words in ~ week, or you call it right :rofl:

And no, there hasn't quite been a million and 10 price drop topics yet, there's been a million and 10 FF7 remake topics.

OMG FF7 REMAKE PS3 BUNDLE @ $299

[C_Guy]

So early in the 10- year plan?

I thought Sony recently declared there would be no price drops on PS3. Are they desperate or were they lying?

[Thirtythree]

I thought this rumor already came along and Sony announced that there would be NO price cuts on the PS3.

[afusion]

So early in the 10- year plan?

I thought Sony recently declared there would be no price drops on PS3. Are they desperate or were they lying?

In the future we'll be buying PS3s @ $75

[+Audioboxer Subscriber²]

So early in the 10- year plan?

I thought Sony recently declared there would be no price drops on PS3. Are they desperate or were they lying?

They were responding to speculation or questions the journalists were asking them.

Business 101: You do not confirm a price drop months before it happens or you will sell absolutely no consoles till that date. Why would someone spend $400 when they can wait a month and spend $300? Think of how apple do it, announce new ipod updates at night and sell them in the morning.

Sony have always said they will review price in the future, people just went ###### up claiming that meant no price cuts. ever. Which was jaw droppingly stupid.

[Minifig]

Gamedaily isn't exactly the most reliable source on the planet.

[ATGC]

I doubt it. Sony said it will maintain the same price for all of '09 and possibly '10.

"PlayStation 3 price cut unlikely for the foreseeable future according to David Reeves"

[Xero]

It would be a good idea to slash the price. Only problem I see is that it will place the PS3 real close to the PSP, and PS2. The difference in cost between devices is smaller than one would expect. Then again slashing all prices isn't a bad idea ;)

2009 will be a hard year for Sony to move units. Lowering the price is vital.

[BajiRav]

Source: http://gamingfront.net/news/268/ps3-price-...just-days-away/

Funny thing is as I pointed out in the new PSP games topic, every rumour here [from a supposed SCE annual meeting] - http://www.dpadmagazine.com/2008/11/22/hug...y-info-blowout/ - has now come true apart from the PS3 cut in March.... and March is days away.

So a heads up, I wouldn't buy a PS3 over the next few days, even although KZ2 is just coming out :pinch:

It doesn't make sense for them to drop price so close to KZ2 release (when is that?). It is supposedly a system seller so price drop will be useless in that period. If they drop "just after" the release, it might cause an out roar - possible returns.

Just my 2cents, doesn't really matter to me anyway. :)

[StandingInAlley]

In this recession time and the amount of losses being made by Sony, I won't be surprised if they actually increase the price by 50$ :p

[+Audioboxer Subscriber²]

It doesn't make sense for them to drop price so close to KZ2 release (when is that?). It is supposedly a system seller so price drop will be useless in that period. If they drop "just after" the release, it might cause an out roar - possible returns.

Just my 2cents, doesn't really matter to me anyway. :)

While this new analyst is saying "days away" don't take it too literally. Initial feedback in November 2008 from the SCE briefing says

Our source tells us that SCEE President David Reeves took to the stage to discuss the current economic climate and how it shouldn?t affect PlayStation business, though was quick to mention that SCEE will bgetting more competitive in price froMarch 2009 onwardsu>b>.

Fiscal year ends at the end of March I believe.

[Neo003]

I think dropping PS3 price it still too early, It will hurt in long term.

[Andrew Lyle Global Moderator]

I thought Sony recently said no plans for price cuts in the coming future... About 2 weeks later, there are rumors of a price cut?

[+Audioboxer Subscriber²]

I thought Sony recently said no plans for price cuts in the coming future... About 2 weeks later, there are rumors of a price cut?

/more audio business 101 to help people out :p

Sony never say there will be no price cuts. It's always skirting the question claiming there is value as it stands, things may be looked at in the future as x, y or z happens. Journalists ask in nearly every interview regarding the PS3 now "When is the price dropping?" - Sony have to answer that, and they do it with PR reply #234. If you get asked a question, you need to answer it somehow, and if it's something not ready for public eyes/ears, time to hit vague street.

Don't people understand how damaging it is to give concrete info on when a price drop will happen? I've already said if you do, why on earth would anyone buy your console in the gap between now and the estimated time you gave if they can save hundreds of $ (especially if it's months away).

Can you imagine if Apple said "Hey guys, a new improved iPod is launching in 1~2 months, don't buy our current iPod any more or you'll blow your money on something out of date". For people who browse the internet and know their way around, they'll usually be a plethora of rumours till the launch of the new iPod about what it is/when it's coming, but Apple always manage to keep exact dates under wraps till very close to release.

The less consumers know about exact timing of price drops [or product revisions], the better it is for Sony.

Their answers are put out to play down imminent drops to encourage buyers that it's still a good time to buy a PS3 [hence why they keep touting VALUE VALUE VALUE], but at the same time the optimism of a price drop is always hinted at somewhat with comments like "we'll look at things in the future", or "when manufacturing costs are revised, we'll look into things".

You want people to keep buying right now, but you also want to throw a bone out there as you aren't daft, you know your console is the most expensive and hasn't received a cut since November 2007. It's a balancing act of sensibility and optimism.

Edited February 25, 2009 by Audioboxer

[+Audioboxer Subscriber²]

Could PS3 Deals Be Indicator of Looming Price Drop?

A friendly tipster sent in this picture they say they snagged at a GameStop showing that the national retailer will be offering a $50 gift certificate with any purchase of a new Playstation 3.

The deal, we're told, kicks off on March 3.

If you're not in the mood to wait, Best Buy is currently offering a $50 gift card and a copy of either Guitar Hero: Aerosmith or Guitar Hero III: Legends of Rock when you by the 80GB PS3 for $400.

While the GameStop still should be taken with a grain of salt, if true both deals bolster recent rumblings of a Playstation 3 price drop.

In his latest note to investors

"Recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days," wrote Hickey.

Could the Best Buy and GameStop deals be predictors for an upcoming $100 price drop?

Source: http://kotaku.com/5160143/could-ps3-deals-...ming-price-drop

Those are some pretty good deals, especially Best Buys.

I'm pretty sure the 360 had similar deals in retail shortly before it's price drop - Retailers trying to encourage the purchase of a $400 system before it drops to say $300.

[soniqstylz]

Industry analyst Mike Hickey of Janco Partners believes a PlayStation 3 price-cut is imminent. He embarrasses himself by claiming that it'll be the removal of the console's Blu-ray drive that'll help Sony make the cut.

In his latest industry note and posted on Gamedaily.com, Janco Partners analyst Mike Hickey reveals that a PlayStation 3 price-cut is probably-maybe on the way. He states that "recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days."

This in itself isn't laughable. I personally agree that all signs point to a PlayStation 3 price-cut sooner rather than later. In fact, I argued that April 2009 would be the perfect time for such a cut.

April will mark the end of Sony's 2008 fiscal-year, meaning a price-cut won't impact the Games Division's 2008 profits. A cut is likely to occur after March 31st since the company can make their losses up during the 2009 fiscal-year.

Unlike Hickey though, I don't believe the announcement will come in the next few days. Not only for the above reason, but because Sony will want to corner Killzone 2 consumers that will buy the console especially for the game. After they've made the jump, the price-cut can attract a whole new set of buyers.

However, what do I know? I'm no analyst! Hickey is, and he believes that the cut has already been brought to the attention of retailers:

"Sony is meeting with retailers this week in Phoenix, where SCEA is holding its annual Destination PlayStation conference. We think the company needs to reduce the current price by $100 to effectively restart unit velocity at retail."

This is perfectly fine, but Hickey believes that Sony will afford the cut with the following strategy:

"We are also hearing continued speculation that Sony is working on a non-Blu-ray PS3 console, which could enable them to make the aforementioned hardware price reduction."

A non-Blu-ray PlayStation 3? Riiight. That'd make sense, since who wants to buy a PlayStation 3 that plays Blu-ray films and...PlayStation 3 games!?

Perhaps Sony will begin releasing PS3 games on DVD's and Blu-rays. Or perhaps they're ahead of the game and will releases all of their titles digitally. Still, that leaves all previously released PlayStation 3 games in the lurch. 'Hey, buy the new cheap PlayStation 3 that can't play Metal Gear Solid 4, LittleBigPlanet or Killzone 2!'

What's a PlayStation 3 without a Blu-ray drive? Since it can't play PlayStation 3 or PlayStation 2 games - it's simply a PlayStation 1 that can play DVDs. Splendid. I'll buy one of those for ?40 please. Now that's a price-cut!

Nonetheless, Hickey does make a reasonable point by stating the obvious:

"We believe the market is expecting a PS3 price cut in April or by June (E3) at the latest, so a near term aggressive pricing decision by Sony could provide a positive catalyst for video game related stocks including GameStop, Activision and Take-Two Interactive.

"If Sony does not cut the price of their console, we expect the continuation of languishing PS3 hardware sales and the potential for publishers to accelerate their reallocation of resources away from the PS3 console."

It's a harsh warning to Sony, but we doubt they'll be removing the drive from the console that won the high-definition format war.

I also thought I'd bring your attention to an article from our friends at D+Pad magazine. Published in November, the article correctly details the God of War III trailer shown this month, as well as the existence of PSP versions of MotorStorm and LittleBigPlanet, which were only announced yesterday.

The significance of the article is that it also states that Sony will get more competitive on the PlayStation 3's price from March 2009 onwards. So don't be surprised when the cut comes at the end of next month.

Uh, no. This Hickey guy is an idiot.

[Guest]

Jesus, some of these analysts are dumb.

[NTUsEr Veteran]

well if price does drop i'll get one, but i got a question. Are the new PS3 backwards compatible with ps2/ps1 games? or are those the only early models?

[Richard Hammond]

I wish they would drop the price i was thinking of buying another one for Killzone 2 and Little Big Planet but the console alone is still ?300. I could get a 360 Arcade for ?13:/:/

[Neo003]

well if price does drop i'll get one, but i got a question. Are the new PS3 backwards compatible with ps2/ps1 games? or are those the only early models?

Short answer is NO, I'm not sure if Sony will go into the whole BC anymore. Since it was a big deal when they decided to stop doing that with the new models year ago (not sure when).

If they do go into that again, I am pretty sure lot of people who bought the ps3 in the last year are not going to be happy. Lucky me I have one with BC and one without it :p.

[Dirk]

Hopefully they will drop the price soon. My friend is in the market to buy one but I told him to hold off to see if it does in fact happen.

[thealexweb]

well if price does drop i'll get one, but i got a question. Are the new PS3 backwards compatible with ps2/ps1 games? or are those the only early models?

Nope they removed it to cut costs, really low of Sony, they lower there costs and not the price.

[Wannes]

The price down here in Belgium has been the same for ages now. However, the specifications change randomly. At first we had a 80Gb then a 40Gb and now a 120Gb.