PlayStation 4 Release Will Drop PlayStation 3 Price By 60 Percent

The PlayStation 4 announcement on February 20 will likely cause a PlayStation 3 price drop. An official announcement as not been made, but experts believe the savings could be as high as 60 percent off the original retail price.

As previously reported by The Inquisitr, PlayStation 4 prototype controllers have been seen in wild. The February 20 Sony announcement has never been officially acknowledged as the launch of the Sony PlayStation 4, but industry experts expect this to be the case.

According to Attack of the Fanboy, the PlayStation 3 price drop should be after the February 20 PlayStation 4 announcement:

“Industry analyst Michael Pachter believes that Sony will cut the price to $199 either at the PlayStation event itself, or shortly following. The analyst expects the PlayStation 3 price cut on February 21st to be exact, and also thinks Microsoft will drop the price of the Xbox 360 in response, according to Games Industry.”

According to Deal News, PlayStation 3 price drop should follow a similar pattern to the PlayStation 2 price drop. When the PS2 debuted in October of 2000 it cost $300. Following the PS3 announcement at E3 in May of 2005, the PS2 dropped down to $129. Then when the PS3 released the PS2 once again dropped, this time to $116, or 61 percent of the original retail price.

The February 20 PlayStation 4 announcement could potentially trigger a PlayStation 3 price drop that has the 160GB version of the console potentially hitting a low of $144, or 64 percent off full retail price. The PlayStation 3 is still very popular with gamers, and its Bluray disc, Netflix, and Hulu playing capabilities make it very attractive as an entertainment system and not just gaming.

Would a PlayStation 3 price drop following the PlayStation 4 announcement be enough to make you pick up a PS3?