The exact same fan boy nonsense was said when PS3 reached $399 price point back in 2007. PS3 made a rally but its momentum was slowed down due to X360 price cuts in 2008. The chances are the $299 PS3 price point will be too late and it will not do much to change things for Sony besides lose more money on PS3. Microsoft can always cut price on the X360 to slowdown the momentum of $299 PS3.
$299 is a traditional launch price of a video game console. PS1 and PS2 both launched at $299 and they both had third party exclusives which helped sell previous Sony consoles. 3 years or more for a console to reach $299 price point is a long time. Interest for the console usually dies off due to gamers having bought consoles already priced at or below the $299 price point already in the first three years.
100 million current generation consoles have been sold already this generation and that is equivalent to around 33% to 40% of the total sales expected sales for this generation. Assuming 250 to 300 million consoles will be sold in total for this generation.
New consoles are introduced once every 6 years. Consumers demand the latest video game console and there is obsolescence of any console within 8 to 10 years. Technological advancements results in new products being introduced and demand of old consoles starts to dwindle, time to introduce next product.
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