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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: Price
By FITCamaro on 6/9/2009 1:53:37 PM , Rating: 3
Well to be honest, not just Sony is guilty of this. But yeah a launch title should be on a greatest hits list by now.

RE: Price
By Golgatha on 6/9/2009 2:04:38 PM , Rating: 2
This goes for Heavenly Sword too.

RE: Price
By Farfignewton on 6/9/2009 7:40:17 PM , Rating: 1
This goes for Heavenly Sword too.

While both could probably use a price drop, neither was a launch title. They both came out in 2007, late November in the case of Drake's Fortune. On the other hand, I don't know how much price drops are Sony's doing, I would think the publisher and perhaps retailer would determine that. Case in point, most retail shops gave Lair an overdue price cut to $29 months ago, yet the three Best Buys closest to me still carry it for $60.

RE: Price
By MrPickins on 6/10/2009 7:07:20 PM , Rating: 3

Nintendo is the worst offender in this area. Zelda Twilight Princess, Metroid Prime 3 and Mario Galaxy are all still $50 retail...

“And I don't know why [Apple is] acting like it’s superior. I don't even get it. What are they trying to say?” -- Bill Gates on the Mac ads
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