GameStop CEO Questions Sony's Price Cuts, Predicts Big Nintendo Game In '09

By Michael McWhertor

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Don Matteo is the head honcho at GameStop, so he's in a position to know a few things. Things like what kind of price cut the PlayStation 3 needs and what Nintendo's planning for 2009.

Matteo tells CNBC that the recent price drop on the PlayStation 2 "really wasn't worth doing" and wonders if a $50 price drop on the PlayStation 3 will really make that much of a difference. GameStop's big boss also thinks a Wii price drop might not be too far in the future, as demand for the console slows. Nintendo can afford it, he thinks, as the company "used to break even on the Wii, but now they're making a considerable margin."

He's also expected something big from Nintendo by end of year.

"We think there will be a Nintendo key property coming out by the end of the year," he says. "They haven't given us any insight, but they have told us to reserve [shelf] space."

Perhaps Matteo is referring to the already announced The Legend of Zelda: Spirit Tracks, but perhaps Nintendo has something else up its sleeve for the holidays. Oh, who are we kidding? Of course they've got something.

GameStop Wants Cheaper Consoles, Predicts Hot Titles [CNBC]

Goodness me selling a truck load of Wii Fits a day not good enough for him? PS3 is screwed in NA, doubt even a $100 would do anything besides a couple more hundred units a week.

EU and Japan though I would say it would make a big difference. Gap is going to get to around 12 million by years end, Sony need to go Nintendo's route (think they are) which is to accept third place and make some profit so they are top dogs next gen as they were for PS2 and PS1. 100 euro price cut would easily but PS3 in EU well above 360 again and PS3 beats 360 in Japan regularly.

Sony realized the same thing about a $50 price cut...M$ would too easily counter, and sony would take a massive loss every qtr...their best bet to hold firm and be happy in 3rd place, and 10 million consoles behind now. Their 10 year plan will bring them closer tho...

Interesting. Another peripheral? Hope they drop the price of the Wii, my fiancee wants one pretty bad.

Of course a $50 price cut would help, especially if advertised too.

As for the big Ninty game... Spirit Tracks looks stupid. But then again its Zelda, so it should sell good.
What Ninty really need to do though is focus on Wii games.

"Wii price drop might not be too far in the future, as demand for the console slows."
It's finally available, so its slow?

Super Mario Galaxy 2?

Lets see

He thinks Wii demand is slowing
He thinks there was ever a time when the Wii was selling at the break even point

I don't really trust him

So does Cammie!

Because Gamestop are reliable.