Game consoles may drop price soon

Gamecube, Xbox and Playstation 2 may drop $50 each

Wednesday, May 7, 2003

Rumors reported all over the place suggest that all three major consoles will drop another $50 by June. This would put the Playstation 2 and Xbox at $149.95 and the Gamecube at a mere $99.95.

Sony today denied that a price drop is in the works. They said they are happy with its price. Microsoft and Nintendo have yet to deny a price drop.

Reuters reported that early newspaper inserts have leaked out from some major retailers that advertise these prices. This announcement comes around the time a price cut happened last year due to slower sales.

The numbers for March are in and Nintendo dominated the market with Sales of Zelda: The Wind Waker and the Ruby and Sapphire Pokemon games. Zelda sold over 820,000 copies in its first week of release alone.

Dean Gianoukos, J.P. Morgan analyst stated "We view the March industry software data as disappointing... excluding the strong software sell-through by Nintendo, industry software sales would have been down 8.3 percent."