At this stage, I'm starting to think that both MS and Sony won't cut prices until either just before they are discontinued to clear stock, or when they cut the price of the XB1 and PS4. Sure, sales are stagnating, but both consoles are at this stage profitable at their current price, still far enough away from their successors to prevent too much cannabilising of sales, and this late in the gen you are unlikely to get many game sales on that hardware, so with a price cut the hardware still needs to be profitable for it to make business sense. Thats tricky because you've already done 7-8 years of hardware optimisations to minimise cost, so without another die shrink (which comes with a large upfront cost) you aren't going to significantly reduce the price without reducing profit margins.
It is likely that the improvement in sales would be insufficient to make up for the reduction in profit margin, and future game sales would be insufficient to make up for reduced hardware profit either. Meaning that it is more profitable for both Sony and MS to leave the 360 and PS3 to wither on the line before discontinuing.
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