PS3 price cut in '08 unlikely, says analyst
- Posted May 15th, 2008 at 05:21 EDT by Michael Harradence
Lazard Capital Markets analyst Colin Sebastian has said that Sony appears less concerned with “chasing” market share in the war against Microsoft and Nintendo, and as a result is unlikely to lower the price of the PlayStation 3 in 2008.
Speaking in light of the company’s 2007 fiscal year results, Sebastian noted that the electronics giant appears more focused in promoting the online component of its latest home console, such as PlayStation Home.
“During its earnings call, Sony management indicated the company is now more focused on achieving profitability in the PlayStation segment and rolling out online services (e.g., PlayStation Home) rather than chasing unit market share vs. Microsoft and Nintendo,” he said.
“Importantly, management comments also suggest that a price cut is less likely on the PS3 this year, at least in the near term.”
Sony announced Wednesday that it sold 9.24 million PS3 consoles in the year ended March 31, and forecast a further 10 million sales for the current business year.