PS3 and 360 Price Cuts, Before Holidays End

A lot of people have purchased the Xbox 360 and a growing number have had new interests in the PlayStation 3. The summer time is winding to an end and fall will bring us a new host of video games and reasons to keep playing our current generation consoles. Many analysts and industry leaders believe the 360 and PlayStation 3 will undergo a USD $50.00 price cut before the Holidays begin.

With holiday madness comes momentum and sales, a USD $50.00 price cut would help bring new momentum to both consoles, especially with Nintendo lapping them in sales. Nobody has considered the direction of the Wii as it doesn’t need to be priced competitively given this is going to be the third year it’s impossible to find in stores.

Do the consoles really need a price cut? It’s hard to argue the PlayStation 3‘s dire need for cutting in price given its already outrageous costs for a console with the least amount of desired titles. The Xbox 360, for most, has the best lineup of titles with a strong fall series of games. The Wii… well, titles don’t really matter just yet because people still buy the console upon sight. The PlayStation 3 is showing off some impressive graphics for this fall and early next year, it may almost be time to invest in the product.

The fall games will keep hardcore gamers buying titles but it will do little to inspire new console sales. If GTA IV, Halo 3, Gears of War and Metal Gear Solid 4 couldn’t drag a gamer to buy, what fall titles will do so this year? Probably very few.

It’s time for the big console vendors to broaden their audience by opening the console to a demographic of gamers that just can’t afford the higher graphic consoles. No, USD $50.00 won’t bring in everyone but it may inspire those on the fringe of consideration to change their minds. With their new consoles in hand they can use their USD $50.00 savings to purchase a new holiday release title.

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In 1995 Ensemble Studios formed as an independent studio and kicked out a little game franchise known as Age of Empires. The title has received many accolades from the first in the franchise extended out to all the Age of Empires releases and spin-offs, all-in-all selling millions of copies.

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The new rumor, based on a K-Mart sales sheet, is stating we’re going to see an Xbox 360 Premium price drop this summer (July 6th, 2008). The new price is said to be USD $299, down USD $50 from the last price drop on the 360 hardware.

The sales sheet only shows the 20GB Premium product, but this is probably going to hit all units to keep pricing competitive. This wouldn’t be the first time a price drop has been slipped from a sales sheet for a current generation console and we’re sure Microsoft will deny it this time as well.

This brings the console closer to a Wii price tag, making it much more desirable by the average gamer; will Wii respond with a price drop? More than likely the answer would be “no” due to their inability to keep up with demand. The dry channels for Wii consoles makes the product highly desired but also impossible to promote and market further than saying “we have Wii in stock” because demand is just so high.

Sony will have to watch out, their PS3 product is catching up in terms of hype and demand but a drop in 360 price will yet again put them behind the 8-ball in terms of competitive pricing.

Will you consider a 360 for $299?

(Thanks, 1up)