Meaningful -- as in it'll mean Sony would finally bow to ubiquitous suggestions, predictions and occasional threats that see the PlayStation 3 being lowered in price please please oh please. Sterne Agee analyst Arvind Bhatia is the latest to join the frugal chorus, telling Industry Gamers, "We continue to believe a $100 price cut on PS3 will occur around the launch of EA's Madden NFL 2010, which is scheduled for release on 8/18."

Agee claims to have encountered similar sentiment at a recent GameStop executive meeting, overhearing talk of a "highly likely" and "meaningful" near-term price drop even over the clinking of diamond-encrusted chalices and relentless pre-order thrusting.

It's Sony's decision, ultimately, but if it's alright with you, we'd rather just get this price drop over with. A lower price means more people get in on the fun ... especially when they also get to stop reading these things.

Sitting atop his throne made with the profits from used games, GameStop CEO Daniel DeMatteo said in an investor call that he believes a price drop for the Wii and PS3 is due. Edge reports (echoing Seeking Alpha's transcript) that DeMatteo thinks, given the current economy, that console prices are too high. He believes that by the third quarter there need to be "price cuts in order to get the hardware moving" to where the company's projections expect them to be.

Dematteo had previously mentioned in a CNBC interview that he'd like to see a $100 cut for the PS3, the same figure that Lazard Capital's Colin Sebastian is expecting by fall. As for a Wii cut, Nintendo doesn't really need one, even as it cut manufacturing costs by 45 percent. If Nintendo does cut the price of the Wii, it would almost feel like charity.

According to Lazard Capital Markets analyst Colin Sebastian, the PS3 is due for a price cut sometime between E3 and the end of the summer. More specifically, Sebastian expects a cut of $100 from the console's current $399 price tag, putting it at a much more consumer-friendly $299. Anything less than $100, Sebastian told Gamasutra, "would likely be perceived negatively by the market."

Given that both the Wii and Xbox 360 are priced at or below the $299 mark (with the exception of the Xbox 360 Elite), we'd say Sebastian is right to claim that any cut less than $100 would be unacceptable. Taking the current economic conditions into consideration, it's likely difficult for most people to justify the $399 price tag when there are comparable consoles to be had for less.

Sebastian joins a cavalcade of companies and analysts making similar predictions lately, noting that it would be a win for everybody. Sony could push its upcoming first-party lineup into more gamers' hands, publishers would gain a larger audience and retailers would enjoy better margins. Sebastian says that "the next 12 months are critical to regain market share" for the Playstation, especially with demand for the Wii finally slowing down and Microsoft reportedly prepping its own motion control interface. And, of course, with Sony aiming to increase PS3 sales by 30 percent this year, a price cut certainly wouldn't hurt.

For once, someone at GameStop wants customers to be able to pay less. Of course, the items CEO Dan DeMatteo thinks are overpriced happen to be consoles, which don't have much of a retail markup -- so dropping the price on them would only give consumers more to spend on stuff with bigger markups.

The console most in need of a cut, according to CNBC's interview with DeMatteo? The PlayStation 3. "That price point is clearly an issue in this economy," DeMatteo said of the $399 PS3 price. And DeMatteo would prefer a $100 cut over a $50 cut when it does happen (which CNBC thinks will obviously be this E3). "I don't know that $50 gets you that much," DeMatteo said.

The executive also sees the possibility for a Wii price drop as soon as demand drops. "I think [demand for] the Wii could slow down to the extent that Nintendo may want to cut the price," he says. "Nintendo has it within its arsenal to do that. The component costs have come down considerably. They used to break even on the Wii, but now they're making a considerable margin."

If DeMatteo's prediction of a "key" Nintendo game out this year is true (and if it turns out to be a Wii game), the demand may stay steady. The CEO told CNBC, "They haven't given us any insight, but they have told us to reserve [shelf] space." Both CNBC and IGN speculate that it could be a new Wii Zelda. What about the Zelda game that we already know is coming out? Nintendo already told us about one. And it's coming out on a console with better sales than the Wii. Doesn't that count?

Analyst Jesse Divnich of EEDAR believes that the PS2 price drop to a Franklin will boost US sales of the console by 30 percent. Divnich's report also estimates that PS2 software will maintain an 18 percent market share, rather than drop down to 16 percent had there not been a cut.

Gamasutra also spoke with analyst Matt Matthews, who points out that any consumer waiting for the PS2 to reach $100 is "cost-conscious" enough to buy games from the used bin at GameStop, meaning those consumers aren't likely to help new software sales. Apparently, Sony's Jack Tretton agreed with this notion last summer in an Edge interview, when he asked, "If that $30 was the difference between buying a console and not buying a console, how many games are you going to sell to that person?"

At the time, he questioned how strategically important that consumer really is. Apparently, nine months and a fiscal crisis at the company is enough to change some minds.

As expected, Sony Computer Entertainment has lowered the price of PlayStation 2 from $129 to $99, as of April 1. The move comes as the console enters its ninth year on sale in the US. That's a heck of a long life for a console, and the price drop will squeeze at least a couple more years out of it. There's a slew of games coming out for the PS2 this year, bringing the total number of games to almost 1,900, including more than 250 "Greatest Hits" games. Frugal gamers have a lot to choose from.

Assuaging fears that this is a mean April Fool's joke (which is the day the price is official), John Koller wrote on the PlayStation Blog, "This speaks to the technology and features that were packed into PlayStation 2 from the beginning, as well as to the ongoing support the platform enjoys from the publishing and retail communities and, well, all of you fans."

Of course, SCEA president Jack Tretton couldn't help but add, "Just as PlayStation 2 is delivering on a 10-year lifecycle and helped expand and solidify the DVD format for home entertainment along the way, we believe PlayStation 3 offers the same promise by helping secure the Blu-ray format and delivering unprecedented value as the total home entertainment solution for the next decade." We get it Jack, but can't we just celebrate with the NINETY-NINE DOLLAH PS2 for now?

All those rumors of a PS3 price drop, like as soon as tomorrow? There's absolutely nothing to them according to Sony, who has contacted us with an official comment on the matter.

"As we have stated previously, we do not have plans for a PS3 price drop, and any rumors to that effect are false and are the result of speculation," the statement from SCEA public relations manager Al De Leon reads. "SCEA remains focused on the long-term momentum of PS3. With the industry's best software lineup this year, combined with our most aggressive marketing campaign to date, we remain confident in our approach and the value we're delivering with PS3."

Sony's reaction to increasing expectations of an imminent PS3 price drop is interesting; it's not the usual "we don't comment on rumors and speculation." By blatantly stating there won't be one, the company may be trying to manage expectations (note that it hasn't denied a possible PS2 price cut). Also, if it were to announce a price drop one day after issuing this clear denial, it would draw considerable investor ire. Then again, if a reduced price for the console isn't announced relatively soon, it risks upsetting not only shareholders, but retailers and publishers as well.

A single source at a Kmart has sent us images that the PS2 will be promoted for $99.99 starting April 5. This source has given us reliable retail information in the past and does not believe this is a sale, but the new price for the nearly decade-old, DVD-enabled console. The last-gen juggernaut currently retails for $129.99.

Our source also checked for a PS3 price cut -- following industry rumors that one is incoming -- but found no evidence in the Kmart system at this time.

[Thanks, Master X]

In a recent interview with GameDaily, SCEA Senior Vice President of Marketing Peter Dille responded to the multitude of rumors claiming the PS3 will see a price drop in the coming months. Simply put, Dille explained that Sony's profit strategy for the PlayStation brand "limits the playbook when it comes to pricing and promotion." Rather than talk about price cuts, SCEA is attempting to "communicate the value inherent in the PS3." (Blu-ray! Wi-Fi! Hard drive!)

Dille was hopeful that consumers will recognize said inherent value -- he dropped reminders of the PS3's prospective 10-year life cycle, explaining that the somewhat costly console will "stand the test of time." Now it just has to explain the concept of a gaming console's "life cycle" to the average, console-purchasing Tom, Dick and Harry, and Sony will be made in the shade.

In honor of the new Warhawk-themed PlayStation Home "Command Center," the PSN version of Warhawk will receive a temporary price drop. The game will be available for $19.99, $10 off the regular price. In addition, each booster pack will be available for $4.99 each. You can score all three booster packs for just $9.99. Warhawk fans that haven't jumped into the expansion content will want to take advantage of this limited-time-only pricing.

Stay tuned for today's PlayStation Store update for the price drop. This deal ends on March 11.

Unless you resort to more unconventional methods of console acquisition, the PlayStation 3 is going to run you a bit more than the 360 and Wii. It's always been that way -- and according to Sony Computer Entertainment Europe head David Reeves, it's going to remain that way for some time to come. His reasoning? The only way for Sony to weather the current financial squall is to protect themselves -- "It's like being an armadillo," Reeves said, in our favorite simile of 2009 thus far.

Reeves told Eurogamer that Sony isn't denying the possibility of a PS3 price cut, stating, "It is possible that as the cost [of manufacturing] comes down, we will be able to do it," though there are no explicit plans to do so. For the time being, the PS3 will remain on top of the price point totem pole -- unless Nintendo decides to double the price of the Wii, which due to the grim forces of supply and demand, it could ostensibly get away with.

The December NPD result were not particularly shocking: Xbox 360, a system which is half the price of the PS3, sold twice as many systems as the PS3. What if the PS3 were cheaper? GameDaily asked a number of analysts.

Michael Pachter, who has traditionally been the PS3's cheerleader, believes the system will actually outperform the Xbox 360 at a $299 price point. "Should they price at parity with Xbox 360 ($299), I think that PS3 sales would exceed 360 sales, and eventually, they could catch up." There's still a lot of time in this generation -- if PS3 sales improve, it wouldn't take too long to close the gap between the two systems.

Jesse Divinich also agrees that Sony could break out of its last place position, although he's less confident. "Sony has a legitimate chance at catching up to the Xbox 360 within the next 2 years, but in terms of overtaking the Xbox 360, that is not likely for some time."

"We absolutely expect the PS3 price drop to happen in the next couple of months," Greenberg told Edge. "We're frankly surprised it's taken this long... I would expect they'd have to move on price, sooner than later, for sure." Color us surprised as well.

Continuing into 2009, Microsoft is well aware that Sony will become more aggressive in their PS3 pricing which, truth be told, is still an expensive piece of hardware for the casual market. Greenberg is right though, it's truly odd to see Sony staying firm on their pricing structure, especially with how things are playing out in the industry.

[Via Eurogamer]