Pachter predicts PS3 price drop

Despite strong sales throughout 2008, Wedbush Morgan analyst Michael Pachter has said that he expects Sony to cut the price of the PlayStation 3 down to USD 299 some time in April of this year. 

Of course, both consumers and analysts alike had expected a price drop to emerge in time for the 2008 holiday season, but this never came into fruition. Recently, Sony reiterated that they plan to turn a profit with their console and deny any price drop sometime soon. However, keep in mind that Pachter has something of mixed track record in regards to this industry predictions.

"Once the PS3 is at a more affordable price point (we expect a cut to $299 in April), we think that sales of that device will once again begin to grow," states Pachter. "We expect another cut in price for the Xbox 360, with the feature-laden Pro model likely to come down in price to $249 at or before this year's E3 show in June."

Though it is unusual for Pachter to be correct, we're hoping this ends up being true for those still waiting for the right time to jump into next generation gaming. With titles like Resident Evil 5 and Killzone 2 coming out within the early parts of this year, it's as good a time as any to join the rest of your friends in the world of HD gaming bliss.

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