Michael Pachter: Next-Gen Xbox and PS5 Won’t Cost $500
Xbox One X debuted yesterday in 35 markets worldwide and for days the new Microsoft console is subject to all kinds of opinions and analyzes in its various areas. The new member of the Xbox family is priced at $500 USD and taking that into account, the console could define the way forward in the future, at least that’s what Michael Pachter, an analyst at Wedbush Securities, thinks.
In another edition of his weekly program, Michael Pacher, the controversial analyst at Wedbush Securities, gave his opinion on the price of Xbox One X and how this is a defining moment for the console market, which, in his opinion, has not been benevolent with prices similar to the new Microsoft console.
Initially, Pachter referred to the price of Xbox One X and its importance in the console market, whether it triumphs or fails: “I don’t think next gen consoles will be $500… though I guess the right answer is, let’s see what happens with the Xbox One X. If Xbox One X is a phenomenal success, if it sells out, if overall Xbox sales rise to above the current level of 10 million a year, because everyone wants that power, then sure, the next gen can be more expensive.”
On the other hand, Pachter considered that one of the factors that intervene today and will do so in the future will be the position of consumers, who still resist spending more than $300 or $400 USD on a console: “I don’t have a lot of experience with $500 consoles, but what I have is bad. The PS3 launched at $600 and it flopped. The Xbox One launched at $500, and it didn’t work, they had to drop the Kinect and bring it to under $400 before it sold. There’s just some consumer obstinacy about spending more than $300-400 on a console. I can’t explain why.”
What do you think about the price of Xbox One X and its future impact on the console market? Xbox One X is already available from yesterday.