Analyst Predicts Price Cut for PS3 on GTA IV Release

Michael Pachter, a leading industry analyst with Wedbush Morgan Securities is raising our hopes once more as he predicts Sony will drop the price of the PS3 to coincide with the release of Grand Theft Auto IV and Metal Gear Solid 4 in 2008. He also predicts that the PS2 may see a price drop before the Christmas season.

“Although we do not expect another PS3 price cut this year, we think a price cut for the PS2 is possible,” said Pachter in his latest note to investors. “Any hardware price reduction could serve as a catalyst for sales growth later in the year.”

“We do expect Sony to be in a position to cut the price of the PS3 in early 2008, when blockbuster games Grand Theft Auto IV and PS3 exclusive Metal Gear Solid 4 will launch,” he offered.

Pachter also believes that investors’ fears over a shift away from video games spurred by the console transition will subside, and publisher will continue to see growth through the close of 2007.

Pachter has a pretty good track record. I hope he’s right this time. The PS3 is worth the money Sony is asking for it, but too expensive an investment for most gamers at it’s current price point.

via GamesIndustry.biz