Consumers hoping for a price cut on video game hardware have a new—and powerful—ally.
While the video game industry has proved relatively resistant to the recession so far, the CEO of GameStop , the industry's largest specialty retailer, says lowering the price of the leading three consoles is necessary to keep momentum going.
Dan DeMatteo notes that he'd particularly like to see a cut in the price of Sony's PlayStation 3, which at $399 is the most expensive game machine on the market.
"That price point is clearly an issue in this economy," he says.
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Sony has repeatedly said it has no plans to reduce the price of the PS3. Despite these declarations, however, the company is widely expected to announce a price cut at or prior to E3, the industry's annual trade show in June. The big debate is whether the cut will be $50 or $100.
"I don't know that $50 gets you that much," DeMatteo said.
Sony did reduce the price of the PlayStation 2 in late March, but DeMatteo says the move came a year too late.
"To be honest, it really wasn't worth doing," he says. "If they'd done it earlier, publishers probably would have kept making games for the PS2, but once they've stopped, they've stopped."
And while the Wii is still a hot seller at $250, DeMatteo says Nintendo should consider a price cut as well.