PS3 price cut rumor #5,678,125,742

are you on crack 3576Let’s be honest with each other, readers. The PS3 is expensive. Sure, it’s a Blu-ray player and there’s free online services, but it’s still expensive. It desperately needs a price drop to maintain its position in the market. But Euro Sony boss David Reeves said last month that we shouldn’t expect a price drop anytime soon. That didn’t stop Janco Partners analyst Mike Hickey from proclaiming that a $100 price drop is coming.

The analyst said, “Recent channel checks indicate increased speculation for a PS3 price cut announcement from Sony in the next couple of days.”

Hickey added, “We think the company needs to reduce the current price by $100 to effectively restart unit velocity at retail. … We believe the market is expecting a PS3 price cut in April or by June (E3) at the latest…

“If Sony does not cut the price of their console, we expect the continuation of languishing PS3 hardware sales and the potential for publishers to accelerate their reallocation of resources away from the PS3 console.”

That’s all well and good, Mr. Hickey, but when you say Sony is working on a non-Blu-ray PS3 you’ve lost all credibility. All the PS3 games are on Blu-ray discs, dumbass. I don’t think publishers are going to want to print two separate lines.

via Edge