Wedbush Morgan analyst Michael Pachter has issued an industry note reflecting on the newly released August 2009 video game sales in the US, and while August was a positive month for the PS3, much more is expected in September.
"The late August price cut for the PS3 clearly drove a pick-up in demand, with that console’s sales up 73 per cent sequentially, and we expect another 50 - 100 per cent sales growth in September," wrote Pachter.
He continued: "Xbox 360 hardware sales were again solid, again outselling PS3 hardware. Until the late August PS3 price cut, the Xbox 360 appealed to consumers, likely due to a higher perceived value proposition."
Pachter is also sticking to previous estimates for Nintendo's Wii, pointing to a price cut or new bundle as the only way the console will recover from its decline.
"With the core PS3 and Xbox 360 models priced only $50 higher than the Wii, we expect year-over-year sales of Wii hardware to continue their annual declines until the company either changes its bundle or lowers price," explained Pachter. "Wii unit sales are 50 per cent below last year’s level over the last five months, and we think that September sales will repeat the pattern."
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