Andre Yoskowitz
9 Jun 2009 23:06
Sure we have heard rumors that a Sony PlayStation 3 price cut has been in the works for months now, but new "industry sources" are saying today that a $100 USD price cut is coming in August, right alongside the release of the sure-to-be blockbuster Madden NFL 2010.
"Industry sources indicate Sony is planning a $100 price cut on the PS3 in mid-August, just prior the launch of Madden (8/18) and the start of the back to school shopping season. This will naturally be a positive for the industry," says Sterne Agee analyst Arvind Bhatia.
He also notes that the video game market, despite a recent downturn, is still doing great.
"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 percent driven by a robust lineup, easier comparisons and potential price cut(s)," he concluded.
The rumor would coincide with recent comments by GameStop CEO Daniel DeMatteo, which says that a price cut is imminent in the Q3 2009.