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.

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".