Console price cuts are coming! Console price cuts are coming! That’s the message from Wedbush analyst Michael Pachter, who says it’s high time for Microsoft, Nintendo, and Sony to all three mark down their respective gaming consoles, CNet reports.
“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,” Pachter wrote in a note to investors.
Despite sales of Microsoft’s Xbox 360 console rising 40 percent year-over-year in 2010, Pachter says it’s possible the Redmond outfit will drop the price of its 250GB Xbox 360 Kinect bundle from $400 to $300. This, he says, would put the pressure on Sony to mark down its PlayStation 3 Move bundle.
It will be interesting to see if any of this comes to fruition. Nintendo so far has seemed content with the Wii’s price point, while both Microsoft and Sony have played around with various storage options and slimmer form factors rather than reduce prices outright.