When it was originally released, the 20GB PlayStation 3 cost €499 in Europe, and $499 in the US. In comparison, the Xbox 360 “core” console sold for $299. The PS3’s relatively high price allowed the Xbox 360 to go on to become the world’s top selling HD console, and to this day it still has a higher global install base than the PS3.
Sony is gaining ground, however, thanks largely to the price cut which accompanied the launch of the PS3 slim in late 2009. At a far more digestible recommended retail price of $299/€299, the PS3 is no longer perceived as overpriced, but according to Sony Computer Entertainment of Europe boss Ray Maguire, we can hope for yet another price cut in the future.
Speaking to Official PlayStation Magazine, Maguire said “PS3 has taken longer than PS2 to establish itself simply because of the cost of the product. It’s been a challenge for us to get the costs down over the years. The retail price has been more than we would have liked… Hopefully the price might still come down.”
“I did think we were taking a big risk in PS3 by making it so heavy featured. As it turned out, I now think it was a stroke of genius, because it’s given PS3 the ability to go on year after year.”
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