Wedbush Morgan Securities analyst Michael Pachter feels that a Wii price cut is just around the corner.
According to a statement the analyst’s research note, “Wii supply has finally exceeded demand, so we expect hardware sales to show year-over-year decreases for the first half of 2009…In order to hit its full-year Wii shipment forecast, we expect Nintendo to cut the price of the Wii before [the] holiday, likely to $199.99.”
Nintendo said in a recent press release that their system has just hit the 20 million mark in the US, while their worldwide sales are already over 50 million.
Edge reports that Nintendo said it expects to sell another 26 million consoles during the current fiscal year ending March 31, 2010.
This seems in direct contrast to what Nintendo’s president, Satoru Iwata said recently about a price cut only providing a temporary boost in sales.
Mr. Pachter also believes that Sony will cut the PS3’s price sometime this year, and adds that it is possible that Microsoft will respond with its own price cut.
“In the second half of the year, we expect Sony to cut price for the PS3, and if the cut is deep enough, we expect Microsoft to respond (either with bundles or with a price cut of its own, even as Microsoft just introduced a Xbox 360 Elite bundle with free games Halo 3and Fable II).”
Full story at Edge Online.