Speaking with The Wall Street Journal, the respected analyst predicted that Sony will drop the PlayStation 3's price at the start of its next fiscal year, which kicks off in April.

At present, Sony sells two models of the PlayStation 3: a $399 80GB model, and a $499 unit that's bundled with a 160GB hard dive and a copy of Uncharted: Drake's Fortune.

Rival Microsoft slashed prices for its Xbox 360 hardware back in September, and the Xbox 360 has siginficantly outsold the PlayStation 3 in the United States since. The cheapest model, the hard drive-less Arcade sells for $199, while the 60GB Pro goes for $299 and the 120GB Elite edition carries a suggested retail price of $399.

The prediction coincides with earlier rumors that Sony would get "more competitive in price from March 2009 onwards." The rumors supposedly stemmed from an internal Sony briefing, and offered word on the first in-game God of War 3 and Uncharted 2 footage nearly a month before either trailer was released to the public.

"With [Sony CEO Howard] Stringer saying, 'We will be profitable,' you can't cut price [in this fiscal year]," explained Pachter. Sony had previously said that it would not drop the price as it "has a business to run" and has to "do the right thing" for shareholders.