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Pachter: Xbox and PS3 price cuts 'will depend on Wii U RRP'

Plus - Industry analyst claims PS Vita price reduction is not likely until 2013

Microsoft and Sony are both waiting on the retail price of the Wii U to gauge whether they should reduce their hardware RRPs, a Wedbush Morgan analyst has claimed.

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Wedbush Morgan games analyst Michael Pachter

Games industry expert Michael Pachter believes there will be no price cut on Xbox 360 or PS3 in the short-term if Wii U retails at over $300 (around £200).

"I think both Microsoft and Sony are waiting to see Wii U pricing. If it is over $300, they don't need to cut." Pachter told CVG.

"When Nintendo makes a move, they [Sony and Microsoft] will respond accordingly," he added.

Prior to the E3 event in Los Angeles this week, price cuts for the PS3 and Xbox 360 were a common discussion within industry circles. It was also suggested, if less frequently, that the PlayStation Vita would undergo a discount in order to stimulate sales.

Pachter claimed that such a discount would be premature.

"I don't expect a Vita cut till November at the earliest," he said, "and probably not until February".

Sony has dismissed suggestions that PS Vita's RRP will be cut in the short-term. The console had a bright launch but since then sales have fallen sharply.

SCEE chief Jim Ryan told CVG this week that "we're not at the stage of thinking about price cuts".

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