The PS3 price cut was long over due. $100 PS3 price cut (25% discount) with new PS3 Slim. The X360 is trying to reduce to the impact by reducing the Elite by $100 (25% discount). The X360 Pro has been discontinued and replaced with Elite at the new price point of $299.
PS3 is now at a price point it should have been 6 to 12 months ago. Some sales analysts believe it could be too little too late for PS3 to even catch the XBox 360 now. 8.2 million sales gap but it could fall by 2 or 3 million sales in a year's time when X360 is likely to make the next big price cut moves. $149 Arcade X360 and $249 Elite X360 250GB model could be reality for Xmas 2010. Microsoft's Natal project and in 2010 , Halo:Reach, Alan Wake and a lot of other games exclusive to 360.
If the PS3 some how won the next 3 years over the X360 in a row which is highly unlikely. The PS3 would need to outsell the X360 by an average of 60 k units per week to even equal the X360 console sales numbers.
Software attach rates: X360 has sold around 250 million software after almost 4 years. Average of 62.5 million games per year = 8 games per 360 sold. PS3 has sold around 150 million software after 3 years. Around 50 million games per year = 6 games per PS3 sold.
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