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The Wii U could face competition from the new PlayStation 3 – Pachter

By: Musa Afridi

  |   September 15th, 2012   |  
Games E3

Wedbush analyst, Michael Pachter, believes that Sony is holding back PlayStation 3 stock to increase demand for the console as it looks to launch a new model that is set to compete with the Wii U.

Sony and Nintendo are two of the oldest names in the console market, with Nintendo currently set to release its eighth generation console in the market. Nintendo also seems to have won the previous generation’s ‘war of the consoles’, as it sold the most units.

However, the manufacturer seems to be facing a tough time this time around as the Wii U is not generating the level of interest from the gaming community as they would have liked. Add in the threat of competition from the smartphone and tablet industry and it will be tougher for the console developer this time around.

Yet, Pachter believes that Sony is set to add more competition for the console by releasing a new, cheaper, slimmer PlayStation 3 model within the next few months. The console is rumoured to cost around the $200 mark and will other the PS3 experience a full $100 cheaper than the Wii U experience, which is priced at $300.

According to Pachter, Sony employed a similar strategy earlier on as well. He pointed out that “The PlayStation 3 160 GB plus Move bundle debuted at $299 in 2010, two full years ahead of Wii U’s debut. It is worth noting that PlayStation 3 160 GB plus Move bundles have disappeared off of many retailer shelves, suggesting to us that Sony is starving the channel ahead of a new hardware introduction that would likely cost less than Wii U’s Basic Set.”

That would make for an interesting decision for gamers looking to purchase a console for the first time or even those who wanted a PlayStation 3 but never found the price to their liking. The new offer could attract those consumers, which could be bad news for the Wii U.

Pachter continued, “We can only speculate that Sony will offer a PS3 without a hard drive at a price point below $200, and we expect a PS3/Move bundle at the $249 price point in the next several weeks.”

It will be interesting to see if that is indeed the case, as Sony have constantly denied rumours of a new PS3 model, although a number of reliable reports suggest otherwise. It’s only a matter of time before the world finds out what Sony has up their sleeve, but to be honest many gamers want to know about the PlayStation 4 more than they want to know about a new model of an existing console.

But what about the readers; would you buy a PS3 for $200 or a Wii U for $300? Let us know in the comments section below.