iSuppli: PS3 price cut expected this year

Analyst says 2008 is the year of PS3, and that Wii owners will defect once price is lowered

Analyst firm iSuppli has stated that the balance of the next-gen console battle has tipped in Sony’s favour, and that the firm is likely to cut the cost of its PS3 this year to make the most of the console’s increasing momentum.

"2008 will be a turning year for the PS3," iSuppli analyst Pamela Tufegdzic told Reuters. "Sony is offering a better forthcoming software pipeline with blockbuster titles like Gran Turismo 5 which will boost PS3 sales this year.

"We anticipate Sony will have another price slash on the PS3 this year, and come Christmas, consumers who originally bought the Wii will likely purchase the PS3.