We Should See Price Cuts for PS3 and Xbox 360 in February According to Michael Pachter

During the latest episode of the Bonus Round videocast on GameTrailers some quite interesting predictions were made. According to Wedbush Securities Senior Analyst Michael Pachter we might see cheaper last generation consoles soon:

I think the publishers are going to threaten the manifacturers, and they’re going to say “cut the price of the PS3 and the Xbox 360, now.” So my bet is: February, price cut happening, because I actually think the publishers are gonna threaten to not support PS3 and 360 this Holiday…Holiday ’14, if they don’t see a price cut quick.

The good news is: Microsoft can cut to 199 in a heart beat and won’t lose any money… I mean it’ll cost their profit. And Sony can do the same, they both have manufacturing down there, and I mean that’s great for consumers. There are still a hundred million Wii owners out there, probably three quarters of whom have never considered owning a PS3 or a Xbox 360. That’s a good opportunity for ten million or more of them to trade up, so that’ll be good.

While I’m not sure that it’ll happen just that fast, I do agree that it’s going to happen soon, and that’s good because my Xbox 360 is on its last leg (I need to open the tray to turn it on), so I may need a replacement soon.

What do you think? Will publishers manage to bully console manufacturers in cutting  the price of last generation consoles to 199 bucks soon enough?

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