The PlayStation 3 started at $600 when it launched in 2006 and it now sits at half that price.
For a while, analysts said $300 would be the sweet spot for both the PS3 and Xbox 360 and indeed, both consoles have fared well enough at that price. But the flat 2010 has led Wedbush Securities analyst Michael Pachter to predict that console prices will fall again in 2011. Despite substantial growth in the user bases of both the PS3 and 360, console sales fell 5% in 2010 (although we also imagine the falling Wii popularity contributed to that 5% drop). And so, in speaking to Industry Gamers , Pachter said he expects all systems to drop in price during the year, and the first will be the PS3:
"We fully expect each of the three consoles to be offered at lower prices in 2011, with Sony likely leading the way as its manufacturing costs continue to decline. A $50 price cut should be sufficient to drive 5% software sales growth; and, coupled with a resurgence in handheld software sales and an easy comparison for music sales, we think that overall software sales growth could hit low double digits in 2011."
So maybe we'll see the PS3 drop to $250 at some point, which of course would make it an even better deal. The user base continues to rise and several analysts have predicted that Sony's machine will pass the 360 in worldwide sales this year. Well, we'll have to wait and see.