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Janco Partners analyst says PS3 price cut announcement is coming photo

$5 off rabies is not a good deal. However, a $299 PS3 is a good deal, and if Janco Partners' Mike Hickey has anything to do with it, we might just get our hands on that deal sooner than later. In a recent note to investors, Hickey stated that Sony needs to cut the price of the console by $100, and without the price cut the console may remain sitting on shelves waiting to be purchased. More on that:

"Recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days ... we think the company needs to reduce the current price by USD 100 to effectively restart unit velocity at retail. We believe the market is expecting a PS3 price cut in April or by June at the latest."

Hickey also says there is talk of a PS3 without the BluRay drive, although this presents the issue that current games would not be compatible with it. With what I get out of my PS3, I feel it's worth whatI paid for it, but I can't deny $299 sounds a whole lot better both on the ears and the wallet. Would you snap one up at that price?

[Via GamesIndustry.biz]








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Colette Bennett is a Destructoid features editor from New Orleans, Louisiana. She is also a founding member of Destructoid's sister sites Tomopop, a toy lover's blog and Japanator, our anime site. Likes Nintendo DS, NES, Silent Hill series, Rhythm games, RPGs Meet the rest of the team



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32 comments | showing # 1 to 32
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killias2's Avatar - Comment posted on 02/25/2009 14:54
killias2
I would probably buy one for 299. That's getting to my sweet spot. 299 plus backwards compatibility would be a no brain sale for me, but I know this is unrealistic.

So..yeah...make with the 300 dollars Sony before I buy a 360.
mix's Avatar - Comment posted on 02/25/2009 14:54
mix
That would be a nice price point, but I LOVE my 60gig!

I see the no blu-ray drive thing never happening, that would be so retarded! It would be like a DVD player without a DVD drive, lame.
Emrah's Avatar - Comment posted on 02/25/2009 14:56
Emrah
His bluray-less ps3 prediction renders all of his analysis useless garbage. His ignorance about Ps3 is so big that it is not even funny..
Mushman's Avatar - Comment posted on 02/25/2009 14:56
Mushman
What this guy is saying is reasonable until I read 'PS3 without the BluRay drive' then I laughed my ass off until it hurt. :D

Why on earth would sony take away one of THE seling points of the PS3? No wonder people don't take analysts too seriously.

Thanks for the laugh Colette, much appreciated. :)
Detry's Avatar - Comment posted on 02/25/2009 14:57
Detry
Probably
moocow21's Avatar - Comment posted on 02/25/2009 15:01
moocow21
$299 would probably be enough for me to bite the bullet, even without backwards compatability. I would get a $400 one if they still had BC... (since I have tons of PS2 games my defective PS2 never played properly)
Shoop's Avatar - Comment posted on 02/25/2009 15:03
Shoop
I would buy it if they put backcompat back in.

... God, even software backcompat. There was no legitimate reason to take that out O_o
Drack48's Avatar - Comment posted on 02/25/2009 15:14
Drack48
Take out the blu ray drive, are you fucking kidding me? That will never happen. Price cut is coming, we all know it..

Good god, mine was almost $800 with tax and my warrenty when I bought it..fuck...I feel sick..
DF's Avatar - Comment posted on 02/25/2009 15:18
DF
Oh, I'd love to buy a PS3 for $300 that doesn't work. If you take out the Blu-Ray, then what the hell are you gonna use it for?! Downloaded games? XD

Yeah, no thanks.
Jackel2072's Avatar - Comment posted on 02/25/2009 15:22
Jackel2072
mine was also 800 + after tax and a replacement plan. I guess thats the price you pay for full backwards compatibility.
necrozen's Avatar - Comment posted on 02/25/2009 15:22
necrozen
I payed 400, and I feel like I got my moneys worth, but much of that decision is based on, not only great disc games and downloadable games, but the extra stuff. Especially after I dropped 80 bucks on a 300 gig internal drive and installed it.

Then I loaded a 600 gig external with digital versions of my vidoe collection, as well as all our photos and all our music. Viola, it is the center of most of our non-tv media intake. If we get new music, it goes on PS3's external, same with new movies and photos. Not to mention the bluray.

But I realize that many people don't see all that it promises when they look at it, or they don't know how to extract all that value because some of it is a little technical. They just see a video game machine, and I understand from that perspective, $300 makes more sense.
grafkhun's Avatar - Comment posted on 02/25/2009 15:25
grafkhun
I would most likely wouldn't pick one up for 300 dollars, but if Team ICO's next game makes me faint with it's sheer awesomeness I may cave in. Or I'll probably just wait for it to be really cheap then snatch up all the exclusives on it.
Naim Master's Avatar - Comment posted on 02/25/2009 15:45
Naim Master
I bought mine for 800 dollars and I feel it's worth it ...
The Prodigal Son's Avatar - Comment posted on 02/25/2009 15:48
The Prodigal Son
Maybe if a price cut pushes more units, the PS3 will get an increase in deven support. Perhaps we'll actually start seeing DLC across both consoles. I'm still upset about Fallout 3 and GTA IV DLC being 360 only.
Black Nexus's Avatar - Comment posted on 02/25/2009 16:00
Black Nexus
A blu-ray less PS3 yeah that ain't happening(has something to do with the games being on blu-ray disks).I think there will be a price cut this year just not until the holiday period.
BluDesign's Avatar - Comment posted on 02/25/2009 16:00
BluDesign
I'd bet that they'll put a bigger drive in there with a bundled game BEFORE they cut the price. They've been able to hang onto a $500 SKU WAY longer than necessary.

Nevermind the fact that I can go out and buy an 80GB PS3, a 320GB drive AND Uncharted for less than $500, that $500 SKU is supposed to be a bargain?

Sony needs to get a $300 SKU out yesterday. The PS3 isn't priced for today's economy and if they want to move units and increase sales, they better address it sooner rather than later.
Usedtabe's Avatar - Comment posted on 02/25/2009 16:07
Usedtabe
Without backwards compatabilty, nope. I'd only buy on for $99 without backwards compatability. If it had BC, then hell yes I would buy it for $299. Already having a 360, the PS3 needs more options (BC) for me to justify the cost
pascuz46's Avatar - Comment posted on 02/25/2009 16:14
pascuz46
299 would be very good for an 80 gig ps3. That would defiantly move units.
funran's Avatar - Comment posted on 02/25/2009 16:14
funran
Usedtabe, That is ridiculous. BC would be nice ( i have a 60 gig), but it's still a PS3 for PS3 games, Bluray, etc. If you've got games to play in a BC'ed PS3, then you've already got a PS2. Don't buy a PS3 for PS2 games, buy it for the exclusive titles, PSN, free online, and non proprietary devices like hard drive upgrading, usb cables, alternative OS support, and controllers with built in batteries. I think those options justify a 299 price tag (assuming after the drop), without adding BC. Anyways, all ps3's will play PS1 games anyways.
Cynical Gamer's Avatar - Comment posted on 02/25/2009 16:15
Cynical Gamer
They should sell it for $250 if they really want to compete with Microsoft and Nintendo.
Dok Industrial's Avatar - Comment posted on 02/25/2009 16:26
Dok Industrial
here's to hoping there IS a price cut. once there is, i'm going to my stepdaughter's fiance and offering THEM $250 for their used, severely disrespected 60-gig. (seriously--until this CHRISTMAS, it was hooked up to their HDTV using RCA cables...)

They can then take that money, cough up $50 extra, then et a brand new PS3 (which, in their "perspective", does everything their old one did), and i get a backwards compatible one for a discounted price.
LukienAkeela's Avatar - Comment posted on 02/25/2009 16:40
LukienAkeela
Well, this is nothing new but stoking the fires of a rumored price cut. I've said before and here we go again...I'd probably buy one for 300...but not right away.
MissHinasaki's Avatar - Comment posted on 02/25/2009 16:41
MissHinasaki
I can't say that I would really want a PS3 for any particular reason but if there was that big of a price drop, I would definitely get one. The current price is just too much for something that I only have a mild interest in but if it were cheaper, it would feel like less of a sacrifice to casually get one. I think it would be good for the company and would bring their product to another level of consumers and not just Sony elitists.
MissHinasaki's Avatar - Comment posted on 02/25/2009 16:50
MissHinasaki
Also, there's no real reason for backwards compatibility. It's just not necessary, especially if you have a PS2. No matter what argument you could use to justify it, it's just a better decision to leave it out. It drops the price and the company no longer has to worry about how to deal with it. Us, the consumers, are just spoiled and whiny.

At first I thought that it was an outrage that they wouldn't be backwards compatible and then I realized that I had a PS2 already and they only real reason I wanted to have backwards compatibility was for the convenience. You could argue that you don't want to have a million consoles in your entertainment system but I don't think that that convenience, especially since they offer a PS2 slim model, is really worth an extra $100, especially when you realize that it's just emulation, which doesn't always run as well as you expect it to because the PS2 and the PS3 are DIFFERENT SYSTEMS. It's strange situation though since both the PS2 and the PS3 are alive and kicking at the same time, the former more than the later. This is different than most generations of consoles.

I think we're far too picky about this whole thing.
Loogibot's Avatar - Comment posted on 02/25/2009 17:05
Loogibot
Why would Sony sell a PS3 that can't play games, specifically games that are for that console? That irks me all wrong. Now, if they drop the 80 gig to $300 USD, then I'm picking it up. BC would be nice, but isn't a must. What Sony needs to do is provide PS2 downloadables, which would be awesome. Probably never going to happen, but one can dream, no...
Technophile's Avatar - Comment posted on 02/25/2009 17:22
Technophile
HAHAHAHA great header image colette!
Usedtabe's Avatar - Comment posted on 02/25/2009 17:42
Usedtabe
@Miss Hanaski: Sony said themselves that removing BC from the PS3 did not have any effect on the cost of the machine.
@Funran: That's good and all, but it's my $299. If I feel that the PS3 needs BC to be worth it to me, then so be it. I already have a 360, therefore access to all multi-platform games
killias2's Avatar - Comment posted on 02/25/2009 18:02
killias2
" I would get a $400 one if they still had BC... (since I have tons of PS2 games my defective PS2 never played properly)"

Ditto... on both accounts.
Burnt Meatloaf's Avatar - Comment posted on 02/25/2009 21:44
Burnt Meatloaf
Usedtabe: "Sony said themselves that removing BC from the PS3 did not have any effect on the cost of the machine."

Are you sure you don't mean sales? Getting rid of BC let Sony take out a few chips and the PS2 memory, and make the mobo smaller.

Removing Blu-Ray wouldn't even make economic sense. The diodes are a heck of a lot cheaper now than they were at launch.
Qraze's Avatar - Comment posted on 02/25/2009 21:52
Qraze
they can't remove blu-ray, what would read the game disc? a dvd drive?
mistic's Avatar - Comment posted on 02/26/2009 01:05
mistic
This would be great! I've been trying to get my GF to get a second one for our living room since our main one is in the gameroom and now we can't watch Blurays anymore :-)
Emrah's Avatar - Comment posted on 02/26/2009 11:13
Emrah
I am also surprised Jim Sterling didn't cover this, laughing all along at the stupidity of the analyst to predict a blu-rayless ps3.
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