Along with a drastic price difference between the Sony PlayStation 3 and Microsoft Xbox 360 game consoles, Wedbush Morgan analyst Michael Pachter believes struggling HDTV sales have also led to PS3 sales struggles.
"We believe that PS3 sales are being impacted by lower demand for HD televisions as a result of the recession," Pachter told GamesIndustry.biz.
Analysts also think a lack of Blu-ray and strong game library are two more reasons the PS3 has struggled, though it seems Sony is ready to try and fix both those problems.
Even though the adoption rate of HDTVs has increased, another wave of price cuts may be necessary before PS3 sales receive a boost.
The Xbox 360 has sold 12.4 million consoles since its release while Sony has sold 6.1 PS3 units. Nintendo with its $249 Wii game console remains the console leader, selling 2 million units alone in November.
Sony does have something to look forward to in the future, as Pachter said several game titles and Blu-ray playing capabilities will help drive sales.
"We believe that several PS3 exclusives, notably "LittleBigPlanet," along with focus on the Blu-ray will drive hardware sales over the next six months."
The recession didn't have a significant effect on the game industry so far, with Pachter predicting strong software and hardware sales leading up to Christmas. The hardware boost is due to the Microsoft New Xbox Experience (NXE), which just launched, while Nintendo successfully increased its Wii supply, and Sony properly marketing Blu-ray.
