If you've been holding off on buying a PS4 until the price drops, I've got some good news. If leaked online listings are to be believed, Sony plans on dropping the MSRP of the PS4 from $399.99 to just $349.99 -- a 12.5% discount. And considering that this generation has seen the return of the pack-in game, this is an excellent price point for the upcoming holiday season.
Over the weekend, our sister site IGN pointed out that the Target website proclaimed a "$50 price drop on the PS4(Opens in a new window)" in large bold text. There's no mistaking the intent here -- it seems like a legitimate price cut is imminent. Possibly, somebody pulled the trigger by mistake. That placement has since been pulled completely, but you can still see a screenshot below.
In early 2014, Microsoft created a new Xbox One SKU without the Kinect, and dropped the price down to $399.99(Opens in a new window). Later that year, the Xbox One dropped to $349.99 for a "limited time." After that promotion expired, Redmond quickly reinstated it(Opens in a new window), and it's been pretty much locked at that price point ever since.
The PS4 has a substantial sales lead over the Xbox One, so it's no surprise that Sony has been slow to match Microsoft's discounts. But given that we're nearly two years into the cycle, and the holiday season is coming up, now's a good time for the price cut. After all, I'm sure Sony doesn't want to let Microsoft get too close.
From a consumer perspective, this is outstanding news. If both consoles are being sold at the same price, the faster internals and sheer popularity make the PS4 the clear option. All of Redmond's Kinect and TV aspirations have been shoved to the side, so both consoles are now competing simply as gaming devices in most respects. Unless you're already invested heavily in Microsoft's ecosystem, it'll be harder to justify purchasing an Xbox One as your one and only console. Hopefully, that will eventually drive Microsoft to go even lower.
So, should you buy-in when the price drops? It depends on how badly you want to play the big 2015 releases. The latest hardware revision is quieter and more power efficient(Opens in a new window), but it's largely the exact same box that shipped in 2013. I wouldn't be surprised to see a complete redesign in the next 18 months or so, and with that will probably come another price cut. If you don't mind waiting, that'll most certainly be a better deal.
If you already have a gaming PC or Xbox One, the number of exclusive PS4 releases probably aren't worth an additional $350 to you right now. But if you're still stuck with a 360 or PS3, this price cut is an excellent reason to pick up a PS4 this year. The Witcher 3, Metal Gear Solid V, and Mortal Kombat X are all incredible next-gen experiences. And if Fallout 4 and Just Cause 3 deliver on the hype, your $350 investment will be well worth it.
