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PS3 price cut 'needed if Sony's to remain competitive'

Analyst also thinks PS4 must beat Xbox 720 to market

RW Baird analyst Colin Sebastian thinks Sony needs to cut the price of PS3 if the company's to remain competitive in the gaming space in the long-term.

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"Sony is in a tough position," he told GamesIndustry.biz. "In many areas of their business, they are losing share, such as TVs and computers, and their challenges are well known in gaming.

"The need to invest in a significant upgrade cycle for Orbis/PS4 comes at a awkward time for Sony, but to remain competitive longer term in games, we think there needs to be another price reduction on the PS3, and then be first to market with a next generation console."

Last week, fellow industry analyst Michael Pachter said he believes "PS3 hardware sales should continue to lag those of the Xbox 360 [in the US], and we expect sales to trend downward by 10 - 20% monthly, until Sony cuts prices once again, likely at E3."

Sony has forecast a massive $6.4 billion loss for the financial year just ended. Following the announcement, it outlined a plan to reverse the company's fortunes which will see digital imaging, game and mobile become "the three main focus areas of its electronics business".

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