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Old Aug 5th, 2003, 05:11 PM   #1
Vic Viper
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Thumbs up Looks like a new price cut is coming up

Quote:
Nintendo goes to war?

With sales flagging, GameCube maker may lead the industry in price cuts -- sooner than expected.

NEW YORK (CNN/Money) - Nintendo has never been known as a particularly aggressive company when it comes to pricing. Sure, it follows suit when its competitors lower prices, but traditionally it hasn't been one to start a fight.

The times could be a changin'.

Disastrous GameCube sales in the company's first fiscal quarter, combined with the threat of losing retail shelf space, could prompt the company to knock $50 off the $149 console earlier than anyone expects.

"Nintendo historically hasn't cut prices until there was enough volume to break even on the price cut," said P.J. McNealy, an analyst with American Technology Research. "They may have to change that philosophical position to stay competitive."

A decision could come as early as Thursday, when Nintendo president Satoru Iwata will discuss the company's business strategy at a news conference. A sudden shift in pricing would be surprising, but would certainly turn heads in Nintendo's direction -- something the company could definitely use.

Even if no cut is announced this week, you can bet on one coming very soon, say analysts.

"We're expecting the GameCube price to drop to $99 sometime in September," said Mike Wallace of UBS Warburg. "We're also expecting the Xbox and PlayStation 2 to fall to $149 by the end of September."

Most industry eyes are on Sony when it comes to price cuts -- and that's logical enough, given the company's gargantuan sales lead over Microsoft (MSFT: Research, Estimates) and Nintendo. Heck, Sony (SNE: Research, Estimates) itself said last month that its games division saw across-the-board declines last quarter, with nearly 2 million fewer PS2s sold. That alone would suggest Sony is giving some hard thought to price reductions.

Here's the wildcard, though. Nintendo, in May, admitted it had fallen short in this console cycle and needed to become more competitive in the market. Its follow-up to that comment at E3 (the industry's annual trade show) wasn't too spectacular, though. In fact, it was run of the mill -- a few mid-level franchise extensions, some third party games and a prototype of a revamped Pac Man game -- which the company hasn't mentioned since, incidentally.

Want to see competitive? Watch Nintendo start a price war.

"At E3 we saw Nintendo take baby steps in that [competitive] direction," said McNealy. "The price cut would be a big adult step."

"If Sony doesn't [cut prices] by September, I think Nintendo will," agreed Wallace.

It's going to need to if it hopes to hit its sales goal of 6 million units this fiscal year. Worldwide, only 80,000 GameCubes were sold between April and June. The company has suspended production on the machines until this fall, hoping to clear out the backlog of inventory.

Nintendo's previous attempts to spark sales -- including bundling free games and hardware with the console -- have run their course. Retailers are starting to pressure the company to lower prices or face the risk of reduced shelf space, which would further dampen sales.

Meanwhile, third-party software publishers have made it clear in recent conference calls that they, too, would very much like to see hardware prices on all consoles come down soon.

"In the event there's no price cut or there's no promotional equivalent by the holiday season, then we will have to revisit our hardware projections," said Activision (ATVI: Research, Estimates) president Ron Doornink.


Perhaps most importantly, consumers have made it clear that they're not willing to pay $199, $179 or, in Nintendo's case, $149 for two- and three-year old technology.

Traditionally no publisher cuts prices until after Labor Day, since August sales are slow anyway. Nintendo, though, could reinvigorate the market and put it ahead a curve with a surprise announcement this week. Maybe more importantly, it could start to reestablish its reputation as a company willing to take risks.


--cnn--
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Old Aug 5th, 2003, 05:38 PM   #2
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Old Aug 5th, 2003, 06:04 PM   #3
dan da man
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Yea it was expecting, when it goes down in price I will buy one for MGS, and it is a dying console, please dont go mad about that, becuase by christmas it will be sure on its last last last legs if it is not dead.
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Old Aug 5th, 2003, 08:46 PM   #4
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time 4 me 2 get an xbox
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Old Aug 5th, 2003, 11:31 PM   #5
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Wow, now I guess I'm really glad I haven't bought one yet. I think I might consider it after the price goes down, there's just so many games I wanna get that are coming out September-December for the PS2 and GBA alone.
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Old Aug 6th, 2003, 12:32 AM   #6
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If the Gamecube does go down to $99 (hell, that's already the price of a GBA SP!) then I should be able to snag one before the holidays this year...and pick up the games I've wanted to play for the longest time (ie, Zelda) and look forward to the next crop of games in the future- FF Crystal Chronicles, Viewtiful Joe, MGS: Twin Snakes, etc.
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Old Aug 6th, 2003, 10:25 AM   #7
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What I'm waiting for is a cut price on the god damned games! Of course, if they cut the console's price, they have to compensate their profit with the games.
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Old Aug 6th, 2003, 11:57 AM   #8
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DAMNIT I WANT THE GAMEBOY TO DROP PRICE GRRRRR i wanna get a GBA SP realy bad i want the silver one cause it goes w/ my gamecube and i wanna play metroid fusion and original metroid
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Old Aug 9th, 2003, 04:12 AM   #9
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yes now will be able to buy gamecube before christmas and hope if i can't it before christmas
just maybe they still have some gamecubes at bestbuy or
walmart
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Old Aug 9th, 2003, 01:23 PM   #10
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The GameCube has never even gotten started, if for some reason Nintendo thinks this system has been viable or successful in any way, they are totally wrong, its been a sham from the very start.... Ps2 hasnt been much this year since March, it seems like you need a console system from October through March and then you can sit on your hands for seven months game wise...
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Old Aug 10th, 2003, 02:24 PM   #11
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Exactly how I predicted in when I was visiting FFInsider forums.

I knew from the get-go that Nintendo was going to have to pull some bears out of their hat to stay in the game, eventually. Nintendo never did have enough of what both the Xbox and ps2 have - third party support. Why? Who knows... at least, I don't. The Gamecube has been dwindling ever since the rage caused by The Wind Waker calmed down.

However, one could have easily anticipated this event way before that - the fact it doesn't have a DVD player or any other special feature definitely turned away college students and software pirates alike. Regardless of how illegal piracy is, it still helps sell the consoles. And when the Xbox was leading the Gamecube in sales in the US, you could easily see that Xbox would going to be second worldwide, as it is now.

All a matter of perception.
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