Console prices are still in the $200-$400 range, despite being 4-5 years old. While unsurprising given the initial prices of the Wii, PS3, and Xbox 360, it makes sense that decent price cuts may finally become a reality. Wedbush analyst Michael Pachter, known for predicting video game sales and events, believes that all three major systems will get a price cut in 2011.
“After maintaining console prices at historically high points throughout 2010, all three console manufacturers appear to us to be poised for price cuts in 2011,” said Pachter in a statement to investors, reports CNET.
Pachter believes that Microsoft will lower the price of the 250GB Xbox 360 + Kinect bundle from $399 to $299 as soon as it begins seeing sales declines, which could be as soon as June. Once Microsoft does that, Sony will have to respond with its own PS3 + Move bundle price cut at $299 to match; Sony is currently in Microsoft’s shadow and must keep pace. Nintendo, however, will follow its own schedule. Pachter suggests the hardware leader will only drop the price of Wii when it finally gears up to release its next console. The Wii is currently priced at $199.
These predictions seem fairly plausible, especially considering the age of all three consoles. None of the major consoles have dipped below $199 in price since they launched in 2005 and 2006. Recently, Microsoft and Sony released motion peripherals which they used to regain a high-end price point of $399 through the holiday season. Below are the prices of the three consoles when they launched.
- Xbox 360: $399 high-end, $299 low-end
- PlayStation 3: $599 high-end, $499 low-end
- Nintendo Wii: $249
Would a price cut of $50 to $100 influence your decision to buy one of these consoles?
