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Prices are down from the first launch, just not as dramatically as in the past... The way that hardware is manufactured these days is different. Chips are outsourced to massive third-party fabs who will charge a fixed price per chip. These fabs won't be sitting doing nothing if your console is selling less, they have other customers they can service instead...

The cost savings would come if you want a faster, better CPU.... or merge multiple chips into one. If you want five chips that basically do the same thing as last year, you'll pay the same amount as last year.