US console price cuts expected by early Q2
Major US videogames retailer EB Games has announced that it expects price cuts to the Xbox and PS2 within the first half of 2004, with CEO Jeffery Griffiths telling a conference call that the drops will come by early Q2.
Major US videogames retailer EB Games has announced that it expects price cuts to the Xbox and PS2 within the first half of 2004, with CEO Jeffery Griffiths telling a conference call that the drops will come by early Q2.
Griffiths was speaking in a call to announce EB Games' sales for the end of 2003, which were up by 24.4 per cent over the nine week period, making for revenues of some $544.4 million (â'¬430m), boosted by strong sales of Nintendo products and PC software.
He said that the console prices were likely to drop in late Q1 or early Q2, a view supported by Wedbrush Morgan analyst Michael Pachter, who told US website GameSpot that "Griffith's console price projection sounds like inside information⦠He would know if [a price] cut [is] planned for now."
Pachter believes that Sony will lead the next round of price-cutting, with the PlayStation 2 dropping to a $149 (â'¬117) price point in February - which, if mirrored in Europe, would bring the price of the console in the UK to under £100 for the first time. Microsoft is likely to respond in kind to any price cutting manoeuvre by Sony.
Further Reading: [EB Games' holiday sales surge, CEO predicts console price cut - GameSpot]