PS3 Prices To Be Cut 25% 12 Months from Launch

Tony Smith of Reg Hardware is reporting that Sony is planning on cutting up to 25% off the price of the new Playstation 3 within 12 months of its March 23rd European launch. The forecast is for Sony to cut up to or more than 150 Euros off of the 599 Euro starting price for the console.

 

Although the news is from Europe a similar price cut can probably be expected here. The PS3's large price tag and stiff competitors have dampened Sony's sales outlook for the console. Playing a large part in the poor sales of the PS3 has been the emergence of the Wii as perhaps the top console in the next gen wars.

 

It appears Europe will be getting 1 million consoles for the lauch and they are expected to be sold out within one month. The price drop may coincide with the release of a 20 GB model expected in late 2007.