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Sony Cuts PlayStation 3 Price by $100, Projects Sales to Double

Sony Corp. will cut the price of the PlayStation 3 video-game console in the U.S. and Canada by $100 in a bid to double sales of the player, which has trailed rivals since its introduction last year.

A PlayStation 3 with a 60-gigabyte hard drive will sell for $499 starting today, a 17 percent discount, Jack Tretton, head of Tokyo-based Sony's U.S. games business, said in an interview. A new 80-gigabyte model will go on sale in August for $599.

Sony predicts the price cut will double U.S. sales of the player, Tretton said. The move will take customers from Microsoft Corp., forcing the Xbox 360 maker to drop the price of its $479 Elite model, analysts said. Nintendo Co.'s Wii, the top-selling console at $249, probably won't be affected.

''The price cut should take more away from Microsoft,'' said Richard Doherty, an analyst at the research firm Envisioneering Group in Seaford, New York. ''A lot of sales that would have gone to the Xbox Elite will go to PlayStation.''

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bloomberg.com
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Odion3814d ago

1. Why are they calling it a player instead of a Console?
2. I am pretty sure the 360 was planning a price drop anyways, they've gone longer then any other console before dropping the price I am pretty sure they'll do it again

FreeMonk3814d ago

Once I hit the states this October, I'll be buying my PS3! ($500 = £260 in the UK. £425 = $850!!!)

Bargain!

Seriously, I think September - October is the perfect time to buy a PS3. The bigger games will be arriving (Heavenly Sword, Killzone, Lair etc), hopefully the new Rumble Controller will be included into the pack, if not definatly in the 80gb Motorstorm Bundle!

With the PS3 sitting next to my X360 and Wii come mid October, it's going to be a great end of the year for gaming with Halo 3, Bioshock, Mass Effect, Heavenly Sword, Lair, Killzone, Metroid Prime 3, Smash Bros Brawl, Mario Galaxy....it's going to be very busy!

Bloodmask3814d ago (Edited 3814d ago )

Sony corporation you are correct. Your move will most likely induce a 360 $100 price drop, which will put the 360 at a mass market price range of $200.

I see any console lowering it's price just over 7 months after release as nothing more than a sign of desperation or fear. Why reduce the price if the system is selling in accordance to your expectations?

As history has shown us with the Wii. Price can be the dominant driving factor of a product becoming number 1 in sales. If the 360 does indeed drop to $200 dollars and the Wii at $250 it will still put the PS3 at double the price of the competition.

Simple fact is PS3s starting price point was rediculous and it will most likely be the most expensive this entire generation.

Blankman3814d ago (Edited 3814d ago )

Clearing up the trouble made PlayStation 3 profitable several months ago, giving the company room to cut prices, analyst Doherty said. Microsoft still loses money on each Xbox 360 it sells, he said.

``Any price cut they try to make puts them more into the red,'' Doherty said.

In addition to a larger hard drive, the new PlayStation 3 model will also come with the racing game ``MotorStorm,'' Tretton said.

ps3 profitable already?????. also the fact that sony took the price off the console before msoft has nothing to do with helping the consumer by easing the load of his/her pocket its jst desperation and fear. Since msoft hasnt dropped the price of its console it really speaks to them being all brave and all taking on the consumer like they don't care. Oh yea they don't with all their broken xbox360 and all the 140 dollars you all had to pay to fix it. But hey ur all geting it back right?

GoLeafsGo3814d ago (Edited 3814d ago )

Double?..Are you kidding me? =|

chitown3814d ago

"SOUBLE" u retarded??? learn to spell before u flame

calderra3814d ago

...if Microsoft follows suit with drops, they might put the Elite SKU into the $399 slot. Imagine if a consumer sees:

-Xbox 360 Elite
-120GB hard drive
-$399

-Playstation 3
-80GB HD
-$599

...where the hell is that $200 going? Even if people are interested in WiFi and/or HD movies, 360's HD attachment is probably also going to drop in price soon, and you can get wireless adaptors (or just a wireless router) for relatively cheap. By the time this PS3 SKU hits, you could probably load up an Elite with an HD-DVD player and a wireless adaptor for the same price or even less than PS3's 80GB unit. Again, assuming you care about these factors.

The average consumer is just going to see almost twice the storage for $200 less.

masterg3814d ago

$200 = 50GB Storage for games and movies instead of 9GB.
$200 = Hardware with a failure rate under 1% compared with one over 30%.
$200 = A console that doesn't sound like a jet engine.

Man I'm never getting my bubbles back when I keep posting PS3 friendly comments.

JCDenton3814d ago (Edited 3814d ago )

@masterg:

200$ more for 3-4 exclusive games? Why would average consumer care how much disk space BluRay has?

Failure rate? You have warranty for that.

"Console that does not sound like a jet engine" - Jesus, PS3 fans will try ANYTHING these days to make X360 look bad.

The majority of people are buying consoles to play games, not to brag about disk space, power of Cell or quiet-working console. PS3 doesn't have so much good games. Games will come eventually on PS3, but why would anyone buy a higher priced console for 5 exclusives, and then wait a year for more exclusives (multiplat. is better on 360, and same goes for on-line features).

VaeVictus3814d ago (Edited 3814d ago )

@ 5.0: You are assuming a lot of things(incorrectly), so go back and think it through again.

@ 5.2: I like that my PS3 has a much lower failure rate and believe it or not, the no games argument is getting old. There are games, and plenty more coming. When will the dead 360 complaint ever end? Oh wait, we have a warranty, great. Now I have to wait X amount of time to play my crappily manufactured console. Great logic.

300 comes out soon in HD, I can watch it on my PS3 no prob's. My 360, oh wait, I've gotta buy the add on...no thanks I don't need another device to kill my 360. I've already had one 360 overheat and die on me.

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