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Home » Featured, News

Reactions to Sony PS3 price drop

Submitted by on Friday, 21 August 20097 Comments

ps3slimIndustry figures and analysts have reacted to the new price point set by Sony on Tuesday for the PlayStation 3. No surprise that they are delighted how Sony has managed to cut the price by a substantial amount, now selling at $299, €299 and £249.

According to the Chicago Tribune, John Riccitiello who’s CEO of Electronic Arts, has praised the drop as a “great move” by Sony and was happy that they chose to do it in August where it “really stands out” instead of right before Thanksgiving or Christmas where consumers are blitzed with messages from various companies trying to sell their products.

In an interview with, Ubisoft’s CEO Yves Guillemot also showed his support for the price drop:

It’s exceptional news, actually. I think the machine is a great machine, with the Blu-ray. I’m happy that they were able to move to that [price point], particularly in the UK. It’s also going to be a smaller machine, and I think this will help Sony and the whole industry – because everybody will react, and so we’ll be able to see it come to the mass market.

EA Games president Frank Gibeau also shared the same views with the site:

I think it’s awesome. It’s an old line, but it still rings true for us: ‘We make the ammunition for the hardware wars’. So the lowest priced hardware possible is a good thing for us. We want to see as big and broad a base as possible, and the Sony hardware is a good piece of equipment.

EEDAR analyst Jesse Divnich believes that the price cut will make the PS3 far more competitive in the market:

The new PS3 pricing scheme finally makes the Sony console a much more competitive product, relative to its closest rival, the Xbox 360. In terms of value, the PS3 is a superior hardware product in comparison to the Xbox 360.

Jesse thinks it will help Sony close the gap on Microsoft’s Xbox 360, although also the new price is just one factor that affects the success of the console for the future:

However, this is not to suggest that hardware sales will suddenly shift to Sony’s favour – a superior hardware system is only one variable in the equation for next-generation success. Nevertheless, the PlayStation 3 price cut will act as a positive catalyst that will close the sales gap between the PS3 and Xbox 360.

Andrew House, who is the head of SCEE, told VG247 that the company would love to price the PS3 at £199 in the UK over the announced £249, but problems out of their control limit their ability to do this.

If we could get to a more aggressive price point within the boundaries of sensible business, absolutely would we wish to do that?  Yes, we would. We have to deal with an exchange regiment that is-what-it-is right now, and not something that we are obviously in control of.

Hopefully if the British pound does get stronger over the coming months, Sony will drop the price further, but that decision of course depends on how successful the £249 price point is for them in the UK.