Sony Cuts Playstation Price: No Joy In Mudville
Sony (NYSE:SNE) has decided to cut the price of its portable Playstation. In the US, the retail cost will drop from $199 to $169, The move still makes it more expensive the Nintendo portable. Price cuts are never a good…
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Sony (NYSE:SNE) has decided to cut the price of its portable Playstation. In the US, the retail cost will drop from $199 to $169, The move still makes it more expensive the Nintendo portable.
Price cuts are never a good sign at a consumer electronics firm, although it is generally assumed that as unit sales go up, the component prices drop, so margins may not be badly hurt.
Sony’s move does open the floor to the question of whether its will have to cut prices on its new PS3, which so far has lagged the Microsoft (NASD:MSFT) 360 and Nintendo Wii in sales. The PS3 is the most expensive of these game consoles.
Price cut for the PS3? Now, that would hurt.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.