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Posted by: Matt Liebl

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Rumors have been circling that Sony is planning to drop the price of the PlayStation 3.  Thanks to a $50 price cut from GameStop that now puts the 160GB PS3 at only $199, some believe a permanent price cut is coming.

Whether it'll be to boost lagging sales, increase sales before the announcement of a next-gen PlayStation console, or some other reason, some analysts believe the PlayStation 3 is due for a price reduction as early as E3.  EEDAR's Jesse Divnich is not one of them.

"I don't believe the PlayStation 3 needs a price drop at the moment," Divnich told GamesIndustry International. "Sales have been consistent and in-line to what one would expect for a platform that continues to successfully grow its install base so late in a console cycle."

"There could be many elements at play, but I highly doubt this is any indication of weakness for the PlayStation 3," he said of the GameStop price cut, which a Sony spokesperson confirmed was just a "temporary GameStop promotion."

In a March NPD preview note, Wedbush Securities analyst Michael Pachter believed, "PS3 hardware sales should continue to lag those of the Xbox 360, and we expect sales to trend downward by 10 - 20% monthly, until Sony cuts prices once again, likely at E3."

Despite the lagging sales, Sony has confirmed multiple times that they have no intention on revealing a new home console at E3.  They remain committed to the PlayStation 3 10-year plan while focusing the majority of their effort this year on the PlayStation Vita which was recently launched.

[GamesIndustry International]

Tags: Sony, PS3, PlayStation 3