Pachter: PS2 Price Drop In 2007, PS3 To Drop For GTA IV
In his latest notes wrapping up news for July and early August, Wedbush Morgan analyst Michael Pachter has predicted that the PS2 could see a price cut in anticipation of the holidays, but that a drop in the PS3's price might be delayed to early 2008 alongside GTA IV and Metal Gear Solid 4.
"We continue to expect higher average console prices to be an impediment to rapid sell-through of hardware," said Pachter, "and we expect cycle-to-cycle declines of 10% or more for hardware sales to persist through the end of summer 2007."
Following Sony's $100 price cut on its 60 gig model PS3, and the recently announced drop on all models of Xbox 360, Pachter thinks it might be too soon to see Sony dropping the PS3's price yet again, but adds that "a price cut for the PS2 is possible," adding that "any hardware price reduction could serve as a catalyst for sales growth later in the year."
However, with Grand Theft Auto IV now delayed to spring of next year, "we do expect Sony to be in a position to cut the price of the PS3 in early 2008," said Pachter, when it and console exclusive Metal Gear Solid 4 will be launching.