Michael Pacter Once Again Predicts A Price Cut

Michael Pachter, analyst for Wedbush Morgan is once again announcing that Wii will get a price cut. This time he says it will be no later than November.

We estimate sell-through of 240,000 Wii hardware units (down 47% from last year), 205,000 Xbox 360 (up 5% from last year), and 160,000 PS3 consoles (a 14% year-over-year unit decline) as the overall sales decline trends continued until price cuts spurred demand in the last few days of the month. Sony cut the PS3 price in the last week of the month, and we expect to see PS3 sales grow substantially in September. We do not think that Nintendo’s Wii hardware forecast is achievable without a price cut, and as long as the Wii remains at its November 2006 launch price of $249.99, we expect continued year-over-year declines for that console’s sales. We expect a Wii price cut no later than November. - Wedbush Morgan analyst, Michael Pachter

I don't know how many different news stories I've heard where someone says that Wii has to receive a drop in price to stay competitive or to meet sales goals. Every time, the rumour is countered by Nintendo saying that it won't happen or they're happy with sales figures to that point. Eventually, though, you'll have to give him credit. At least once he's going to be right.