GameStop CEO Wants PS3 Price Cut

GameStop CEO Wants PS3 Price Cut

GameStop CEO Dan DeMatteo has urged Sony to cut the price of the PlayStation 3, which at $399 is the most expensive console on the US market.

"That price point is clearly an issue in this economy," he told CNBC, going on to debate how big such a drop should be. "I don’t know that $50 gets you that much," he suggested.

DeMatteo said Sony’s recent move to cut the PS2’s price was too late and “really wasn’t worth doing" as many publishers had already stopped making games for the system.

Despite US Wii sales remaining steady for the meantime, DeMatteo also said Nintendo may be wise to introduce a price cut from $250.

“I think [demand for] the Wii could slow down to the extent that Nintendo may want to cut the price," he said. "Nintendo has it within its arsenal to do that. The component costs have come down considerably. They used to break even on the Wii, but now they’re making a considerable margin."