PS3/360 price cut expected this holiday, says Pachter
- Posted May 21st, 2008 at 07:00 EDT by Michael Harradence
Wedbush Morgan analyst Michael Pachter has said that he expects further price cuts to be made this holiday season for both Sony and Microsoft’s latest home consoles.
Speaking at the recent Electronic Gaming Summit, Pachter forecast a price reduction of USD 50 for the PlayStation 3 and Xbox 360, estimating industry growth this year at approximately 19 per cent in North America and 20 per cent in Europe.
The analyst added that he expects growth in the US next year to reach only 16 per cent and 18 per cent in Europe unless both console receive further price cuts.
Furthermore, he forecast growth to decline to around 10 per cent by 2011; in which case the industry will flatline unless a new console is released.