updated 07:45 pm EDT, Mon March 30, 2009
Sony denies PS3 price drop
Sony has denied rumors regarding an imminent price drop for the PS3. The specific rumor that elicited the response had suggested the company was preparing for a Tuesday announcement which was believed to include a lower price for the gaming console or a new browser and online content. Analysts, such as Mike Hickey from Janco Partners, still expect Sony to eventually cut prices sometime between April and June.
"As we have stated previously, we do not have plans for a PS3 price drop, and any rumors to that effect are false and are the result of speculation. SCEA remains focused on the long-term momentum of PS3," Sony's PR Manager, Al De Leon, told CrunchGear. "With the industry's best software lineup this year, combined with our most aggressive marketing campaign to date, we remain confident in our approach and the value we're delivering with PS3."
Hickey argues that a cut of $100 or more will be necessary to invigorate PS3 sales. Without the adjustment, he claims, the console will continue to show lackluster sales and may even drive developers to other platforms.
Sony has maintained that hardware costs have prevented earlier price cuts, as the cost of building the systems would have to drop before the retail tag will change. David Reeves, chief of Sony Computer Entertainment Europe, claimed that the company is protecting itself from the difficult economic period which requires a defensive pricing strategy to sustain profitability.