Greenwald: Time To Buy PS3 Over Xbox 360

by M. Renton

Xbox 360 got the price cut and the new model announcement like everybody expected, but that doesn't mean that the undecided masses should hop aboard the bandwagon quite yet.

According to Signal Hill Capital Group analyst Todd
Greenwald, this is the prime time to buy a PS3. After all, PlayStation 3 has a plethora of exclusive titles in 2008, and it's the most cost efficient Blu-ray player to date. Sony outsold Microsoft in next-gen consoles in June, and big mo' seems to be on their side.

"For the first time since the console launched, I really think there's more reason to buy a PS3 than the 360," Greenwald told Bloomberg.

"This battle for second place is quite relevant," added Wedbush Morgan Securities analyst Michael Pachter. "They lose revenue stream for years ahead based on what people buy."

Sony again reiterated that no price cut is forthcoming.

"The price has been addressed," explained head of marketing Peter Dille. "We are at $399 and I think that's right in the wheelhouse for a lot of people, especially those who have high-def in their homes."