Sony’s new PlayStation Vita won’t hit our shores until early 2012, but analysts in Japan have already begun to question how much success the portable will have in light of Nintendo’s recent 3DS price cut. Nintendo’s move has apparently made some wonder when Sony will move to match the cheaper MSRP.
“Gamers are increasingly anticipating Sony to lower prices, especially after the 3DS cut,” said Ace Securities analyst Hideki Yasuda told Bloomberg. “Sony is under major pressure to cut the price of the Vita or risk a major failure.”
The Nintendo 3DS now sits at $169 after the cut, while the cheapest PlayStation Vita unit will run gamers $249. Sony has already said it refuses to get into a price-cutting war with Nintendo.
“We have a very good product at a very affordable price,” said Kaz Hirai, president of Sony’s Consumer & Products Services group. “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.”
Analysts note that specialized gaming devices like the PS Vita and the 3DS are facing mounting competition from smartphones and tablets. But some praise Sony for chasing luxury consumers who will purchase products with higher price points.
“The environment for portable game players has become more difficult because of smartphones,” said Daiwa Securities Group analyst Koki Shiraishi. Daiwa estimates shipments of the PS Vita come in around half of the PSP’s numbers during the portable’s first two years.
“The customers Sony is targeting with its Vita are those willing to spend a lot of money,” said Shiro Mikoshiba, an analyst at Nomura Holdings Inc. “That’s a valid strategy even if the volume’s low as long as it can sustain the higher price.”
The most depressing sign for Sony is the fact that average consumers are opting to wait on purchasing a Vita.
“PS Vita’s quite expensive,” said Yukinobu Takeda, an event planner in Tokyo, who owns a PSP and Nintendo DS. “I don’t think I’ll be one of those people rushing to buy it on the release date. I don’t really see a reason to pay that much for another game player. I’m satisfied with my devices.”
Are you looking forward to the Vita?
