Pachter: $299 PS3 would outsell 360, put Sony back in the game

A day after it was tabulated that PlayStation 3 was outsold by Xbox 360 nearly 2-to-1 in December, industry analyst Michael Pachter has told GameDaily he believes Sony would outsell Microsoft if it dropped PS3's price to $299 -- the going rate for the 360 "Pro" system.

"I think that PS3 will sell well once competitively priced," Pachter said, adding, "Should [Sony] price at parity with Xbox 360 ($299), I think that PS3 sales would exceed 360 sales, and eventually, they could catch up." Sony's cheer squad shouldn't get too charged up yet, though. Pachter also said that, "At present, it doesn't look like that is happening any time soon, so Sony should be prepared to remain in third place until well after they cut price."

For its article, GameDaily spoke with several other analysts, all of which echoed the same sentiment: given its current standing and the state of the US economy, PS3 needs to be priced below $300 -- and, if it is, it will eventually overtake Xbox 360 in sales.

This article was originally published on Joystiq.