360, PS3 price cuts at E3? Pachter thinks so

Wedbush Securities analyst Michael Pachter has revealed predictions for price cuts for both Microsoft’s Xbox 360 and Sony’s PlayStation 3 at this year’s E3 in June.

“Recent slowing of Xbox 360 hardware sales could cause Microsoft to consider a price cut by E3. We do not expect an announcement of a next- generation console from Microsoft until the Xbox 360 core model is priced below $200, likely around this time next year,” Pachter stated in his March NPD report.

“PS3 hardware sales should continue to lag those of the Xbox 360, and we expect sales to trend downward by 10 – 20% monthly, until Sony cuts prices once again, likely at E3.”

Sony’s last PS3 price cut was at Gamescom last year. Could the company really follow up with another cut less than a year later?