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PS3, Xbox 360 price cuts likely by E3 2012, Pachter predicts

Xbox 360  - 1099911

Lagging console sales could lead Microsoft and Sony to cut the prices of the Xbox 360 and PS3 as early as E3.  At least, that's what Wedbush Securities analyst Michael Pachter believes.

"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," Pachter said in a March NPD preview note.

Similarly, Pachter believes the "recent slowing of Xbox 360 hardware sales could cause Microsoft to consider a price cut by E3."

Despite rumors that the Xbox 720, or Xbox Durango, or next Xbox is arriving by end of 2013, Microsoft continues to emphasize their focus on the Xbox 360.

"While we appreciate all the interest in our long-range plans for the future, we can confirm that there will be no talk of new Xbox hardware at E3 or anytime soon," Microsoft said back in March.  "For us, 2012 is all about Xbox 360-and it's the best year ever for Xbox 360. The console is coming off its biggest year ever-a year in which Xbox outsold all other consoles worldwide."

Pachter believes the next Xbox won't be announced "until the Xbox 360 core model is priced below $200, likely around this time next year."

[CVG]

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Matt Liebl You can follow Senior News Editor Matt Liebl on Twitter @Matt_GZ. He likes games, sports, musicals, and his adorable dog, Wrigley. And his wife.
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