Analyst calls for PS3 price cut, Sony says no thanks

Jesse Divnich, an analyst at Electronic Entertainment Design and Research, is calling for a pre-holiday price cut for the PlayStation 3. Divnich feels this is the only way the PS3 will remain competitive this holiday season, in light of the recent Xbox 360 price drop which placed the cheapest configuration of Microsoft's console below the $200 mark. The analyst predicts even more doom and gloom for our beloved console. "If September hardware sales fall below our estimate (under 200,000 units), it could be an indication that the Xbox 360 price cut played a bigger role on hindering PS3 sales than what we originally expected." In terms of software, Divnich expects Gears of War 2, a 360 exclusive, to be the top dog during the shopping season. What about Sony's exclusives, you may ask? "The $399 price point is simply too steep to entice the casual and mainstream markets, regardless of how great Resistance 2 and LittleBigPlanet may be."

Sony's Patrick Seybold of corporate communications immediately issued a response, denying that any price cut will take place in the remainder of 2008. "As previously discussed we aren't making any price moves this holiday season ... With PS3 titles for this [holiday season] including Resistance 2, LittleBigPlanet, SOCOM, MotorStorm: Pacific Rift to name but a few of our multiple exclusives, combined with PlayStation Home and increasing multimedia features for the hardware, we expect to have continued momentum going into and beyond this holiday season."

How do you guys feel about Sony's unwillingness to drop the price of their console? Most of us realize that you are definitely getting your money's worth with the $399 price tag, but does the mainstream consumer know?