Sony PS3 Holiday Sales to be disapointing

The first preliminary sales numbers of the Sony PS3 console for the Holiday shopping season paint a grim picture. Apparently PS3 sales are down, they fell 19% last month from a year earlier according to NPD Group. The analysts predict for this month flat or lower sales compared to 2007 according to WSJ.

It looks like all of Sony's bets for the PS3 did not come through:
1) PS3 Blu-ray bet: Blu-ray adoption actually happens now through low-cost players and not through the PS3 anymore. HD streaming of video is real and offered by Netflix.
2) Playstation Home: Playstation Home is not ready to appeal to the masses yet.
3) No Price cut: Keeping the price at the $399 was most likely the biggest mistake that led to the low sales of the PS3 this holiday season. The Xbox 360 and the Wii are basically almost selling for half of the price of a PS3.
So what now Sony? So much of the company depends on the success of the PS3. Will a price cut be enough now? Are there new unique blockbuster titles from the caliber of LittleBigPlanet?
2009 will be a tough year where Sony needs to prove that the PS3 is really the best game console.

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