Sony Believes the PS3 Was a Stroke of Genius, Price Drop Looms

March 12, 2011 Written by Jonathan Leack

Believe it or not, Sony’s PlayStation 3 has been out for nearly four-and-a-half years now. During that time it has gone from what many considered an overpriced multimedia center, to arguably the best bang for your buck in the electronic market today. It’s been a long road, but Sony believes its once doubted plan was a stroke of genius, and plans to make the console even more affordable in the future.

In the latest issue of OPM UK, Ray Maguire from SCEE shared his thoughts on the PlayStation 3’s initial price point, and where it has gone during its journey since then.

I did think we were taking a big risk in PS3 by making it so heavy featured. As it turned out, I now think it was a stroke of genius, because it’s given PS3 the ability to go on year after year.

He’s certainly correct; the PS3 has shown its sky-breaking abilities by offering some of the best visuals on the market at a welcoming price point. But the current price won’t last forever, and Maguire added the following:

It’s been a challenge for us to get the costs down over the years. The retail price has been more than we would have liked… Hopefully the price might still come down.

It’s been a year and a half since the PlayStation 3 hit its current model of $299 for a console equipped with an over 120GB hard drive. In comparison, its older brother, the PlayStation 2, debuted at $299, then proceeded to hit $199 within two years, $149 within four years, and then offered itself at $99 after about eight years of being on the market. The PlayStation 3 is due for a price cut, and the question at this point really is will it be to $249? Or does Sony want to make a major impact by dropping it to the golden price point of $199?

[Thanks OPM UK]