I wouldn't take analyst's word as infallible. Most predicted that the PS3 would rule the sales, or at least have a fight with the 360 for first place...most were flat out wrong on how this past year has shaped up.
It's my firm belief that price cuts without big-name games (not unproven IPs) will not help their market share enough. If they continue to cut prices they will lose a lot of money and consumers will still choose the 360 at a similar price. If a consumer is on the fence about a console, why would a reduced price PS3 get their attention over a 360? Many games are multi-plat now and the 360 has a ton of great exclusives and their online component blows Sony out of the water. All Sony has is the promise of some exclusives in the future, though many would say it's doubtful that they will stay that way.
People need to stop obsessing about price and start looking more at content. Remember when the Wii price was announced and everyone moaned that it was too high and wouldn't sell well? Turns out that people wanted the content and the price point wasn't a huge deal. If the PS3 had titles like GT5, GTA4, FF13, MGS4 in its first year it would be outselling the 360 by now. The problem isn't its price, the problem is that Sony has yet to give consumers enough reasons to choose their console over the 360. And a reduced price won't be the saving grace...2 price cuts in one year will just reek of Dreamcast-like desperation.
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I wouldn't take analyst's word as infallible. Most predicted that the PS3 would rule the sales, or at least have a fight with the 360 for first place...most were flat out wrong on how this past year has shaped up.
It's my firm belief that price cuts without big-name games (not unproven IPs) will not help their market share enough. If they continue to cut prices they will lose a lot of money and consumers will still choose the 360 at a similar price.
If a consumer is on the fence about a console, why would a reduced price PS3 get their attention over a 360? Many games are multi-plat now and the 360 has a ton of great exclusives and their online component blows Sony out of the water. All Sony has is the promise of some exclusives in the future, though many would say it's doubtful that they will stay that way.
People need to stop obsessing about price and start looking more at content. Remember when the Wii price was announced and everyone moaned that it was too high and wouldn't sell well? Turns out that people wanted the content and the price point wasn't a huge deal. If the PS3 had titles like GT5, GTA4, FF13, MGS4 in its first year it would be outselling the 360 by now. The problem isn't its price, the problem is that Sony has yet to give consumers enough reasons to choose their console over the 360. And a reduced price won't be the saving grace...2 price cuts in one year will just reek of Dreamcast-like desperation.