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Rumors say PS3 will drop $100 to coincide with Madden NFL's August launch

As the global economy continues to remain weak, most markets are seeing sales at the lowest point in many years. Even the stalwart video game industry is seeing sales figures decline in the face of the economic recession.

Console sales are directly tied to software sales and many game publishers are putting pressure on Sony to drop the price of its PS3 console. The PS3 is by far the most expensive game console on the market that is currently dominated by the lower priced Nintendo Wii.

Sony maintains that no price cuts are coming on the console and some industry analysts say that Sony simply can’t cut the price of the PS3 considering that the console is still a money loser for the company. Rumors of price cuts on the PS3 continue to circulate as fast as Sony can deny price cuts are coming.

The latest rumor comes from IndustryGamers who cites industry sources that claim a price cut on the PS3 is coming in August to coincide with the launch of the latest Madden NFL game. If the rumors are to be believed this time, the price cut would be significant at $100.

The price cut is said to be coming mid-August shortly before the August 18 launch of Madden. Sterne Agee analyst Arvind Bhatia said, "The industry is 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% driven by a robust lineup, easier comparisons and potential price cut(s)."

Sales of game hardware and software are predicted to have drop another 17% in May. If Sony cuts the price on its PS3, odds are Microsoft and Nintendo would cut prices on their consoles as well. Price cuts could be the catalyst that the gaming industry needs to pull out of its sales nosedive.

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RE: Yeah right
By smackababy on 6/9/2009 1:02:47 PM , Rating: 2
Granted, if I was in any marketing posistion I would never announce a price cut months before I did one. It makes perfect sense to deny cuts, then make them. Why halt all sales of whatever you're selling until you cut the price?

btw, I didn't read the article either.

RE: Yeah right
By Danger D on 6/9/2009 1:06:02 PM , Rating: 4
You don't need to read it. The headline pretty much offers as much detail as the article.

RE: Yeah right
By zaki on 6/9/2009 1:37:53 PM , Rating: 4
yeah dailytech insists on writing a god damn history essay before getting to the bloody news....didnt used be this way...was to the point, must be having some literary insecurity about their reporting....what a pity

RE: Yeah right
By geddarkstorm on 6/9/2009 3:36:42 PM , Rating: 3
If you want straight up news, go to Reuters. What Dailytech seems to try to do is actually add some analysis to the article. If it succeeds well in your opinion or not, is completely up to you.

I like it: history and perspective added to current events sheds a lot more light on both what's happening and where things might go. Of course, for PS3 price cut rumors, that isn't important to me, hah.

RE: Yeah right
By Danger D on 6/11/2009 11:53:56 AM , Rating: 2
Uh, yeah, that is what I was expressing. My opinion that in this case they did not succeed.

I don't want straight up news; I want DailyTech to offer a little more here than just a headline with window dressing. You're arguing against a point I didn't make.

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