PS3 Price Cut Would Be A 'Nice Olive Branch,' Says Analyst

By Colin Tan on May 2, 2011, 5:16PM EDT

Sony's just coming around the whole PSN breach debacle, issuing an apology on Sunday at their presser, complete with a deep seven second bow, after which stocks rebounded back up. PSN is scheduled for revival this week, with the "Welcome Back" program set to launch alongside it; however, Lazard Capital Markets analyst Colin Sebastian believes that Sony can do better, by slicing and dicing the current price tag to something even lower.

"I think a price cut on the PS3 would be a nice olive branch right now," he said in a comment to Industry Gamers. There are already rumours that both Microsoft and Nintendo are set to cut the prices on their respective console before E3, putting some pressure on Sony to do the same. Wedbush analyst Michael Pachter said earlier this year that Microsoft would be the one to spearhead the console "price wars."

Regardless, Sebastian maintains that Nintendo is under even more pressure than Sony, what with the 3DS and Project Cafe on the horizon: "E3 is always important, but I think there is more pressure on Nintendo, which is the most exposed company to the growth of casual games on emerging new platforms."

Source: Industry Gamers

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