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RenCutypoison said:

While buying a 299$ 5 years old console made no sense a decade ago, the rise of smartphones, tablets, and overall democratization of laptops made it so people are less affraid to invest large sums of money in high tech products. That's less incetive for manuifacturers to sell at a loss.

Not true. Especially if using smartphones as your reference.

Firstly, very few people spend large sums of money on phones. They get a payment plan and spend small sums of money over a two year period which goes a long wa to easing the burden.

Secondly, and more importantly.... the PS4 isn't selling more than how consoles typically would sell. Its pretty much keeping the pace with the PS2. 

As for incentive to sell at a loss..... that I agree with. If consumers bought the PS4 less then sony would have dropped the price sooner. As is the darn thing was still pushing around 1M+ every month.