Analysts: Sony 'Under Pressure' To Lower PS Vita Price

Japanese gamers are under the impression that Sony will cut the price of the PlayStation Vita in response to the Nintendo 3DS price drop, according to analyst reports. As reported by Bloomberg, Ace Securities analyst Hideki Yasuda explained that if Sony does not drop the price of its upcoming PS Vita, it could result in a huge issue for the company. "Gamers are increasingly anticipating Sony to lower prices, especially after the 3DS cut," said the Tokyo-based analyst. "Sony is under major pressure to cut the price of the Vita or risk a major failure." In light of the Nintendo 3DS price cut, Sony president Kaz Hirai said that Sony will not be reducing the price of its handheld, noting, "We have a very good product at a very affordable price." "There’s no need to lower the price just because somebody else that happens to be in the video game industry decided they were going to." However, numerous analysts believe that Sony should indeed be concerned. "The environment for portable game players has become more difficult because of smartphones," noted Koki Shiraishi of Daiwa Securities. Shiraishi estimates that shipments of the PS Vita will be about half of its predecessor, the PSP, compared to the product’s first two years. Shiro Mikoshiba, analyst at Nomura Holdings, had a different perspective. "The customers Sony is targeting with its Vita are those willing to spend a lot of money," he explained. "That’s a valid strategy even if the volume’s low as long as it can sustain the higher price."