Wedbush Morgan analyst Michael Pachter has stated that he expects Sony will lower the price of the 80GB PlayStation 3 to USD 499 after the company sells out of the original 60GB SKU.

As reported last week, Sony Computer Entertainment America recently confirmed that the 60GB model would no longer be available once initial stock has been sold, leaving only the recently announced 80GB on the market, which currently retails for USD 599.

However, Pachter believes the omission of the 60GB model can only act as a precursor to yet another price cut; the 80GB SKU. "In our view, the Sony entry level price of USD 499 is here to stay," said Pachter. "We believe that there are presently 2 – 3 million 60GB PS3s produced and not yet sold, and expect the entire supply to be diverted to the US to honour the new lower price point.”

"Once these units are sold through, we expect the company to lower the price of its 80GB model to USD 499 on a standalone basis”, he added. In addition, Pachter also forecast another price cut for the 80GB model to take place early next year. "We expect the USD 499 price cut to be maintained until early next year, when the 80GB model will likely be cut again to USD 399," he observed.

The 80GB PlayStation 3 is available in North America from August 1st, priced USD 599; the package also comes bundled with a copy of Evolution Studios’ launch title, MotorStorm.

Source: GameIndustry.biz