Sony won’t lower PS3 price (yet)

In a bit of non-news, Sony President Ryoji Chubachi told Reuters today (July 6, 2007) that Sony has no plans to reduce the price of the PS3 in the near future.

The system currently retails for $599.99 for the 60 GB model and $499.99 for the 20 GB console. The Xbox 360 is now priced at $299.99 for the Core setup, $399.99 for the regular console and $479.99 for the newest Elite model. Nintendo’s Wii remains the least expensive new gen console at $249.99. (All prices are US$).

The PS3′s high cost is attributed to the built-in Blu-Ray HD disc player as well as the processor and graphics capabilities. Making matters worse, most PS3 games retail for $60, $10-20 more than games for most other systems.

Even with such a steep price tag, Sony is confident sales will pick up, much as it did with the then pricey PS2. Gamers, however, shudder and cringe when they see the price tag and then cry when they move over to section of the aisle with the controllers and games.

Sony will have to drop the system’s price at some point to remain competitive, it’s simply a matter of when and by how much. Sony could be waiting until E3 – or just before Christmas – to make more gamers happy. My guess is some type of enigmatic, teaser announcement at E3, followed by a $100 drop before this Christmas (2007). Otherwise, after a year of poorly increasing sales, I’d expect a $150 drop before Christmas 2008.

Read [Reuters]