I certainly don't expect PS4 to peak in year 4. But I also seriously doubt 2015 will be PS4's peak year. If it drops to $299 at the end of this year then I expect PS4's year 2 and year 3 to be a bit like PS3's Year 3 and Year 4 when it his $299. If PS4 only hits $349 this year than 2016 will be the $299 year and it will may peak in 2016 or 2017.
I certainly don't expect 3 months @$299 (if that happens this year) and 9 months @ $399 > 12 months at $299 (in 2016). I believe 2015 will be
The thing about late peaks from the previous generation is that this pushes a large number of people to feel that they haven't yet got value for money out of their 7th gen purchase(s), and hence this can delay entry into the 8th gen a little. This may or may not be a significant effect, but I don' think you can completely ignore the late peaks for PS3 (in particular) and 360 (to a lesser extent) as having an impact on the 8th gen sales pattern. I say 360 to a lesser extent because I believe the very unusual sales curve of 360 (basically 2 peaks) is down to the millions of casuals who jumped from Wii to 360 because of Kinect. And many of those millions are possibly not going enter the 8th gen at all. Or they might fall back to Wii U as one family I know has done. They had Wii early on, then got Kinect360, and now they have Wii U and probably won't buy Xb one.
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