To different analysts, they don’t see anything but the console prices going south.

According to Eric Handler, a senior analyst with MKM Partners, he expects Sony to drop the price of the $399.99 PS 3 console prior to August 18th, which is also the date for the release of Madden 10. He also expects that when Sony cuts their price, Microsoft will drop the Xbox 360 $50. “If Sony is going to have the 160GB PS3 at $399, which is the same price as the Xbox 360 Elite with 120GB, I think a $50 price cut makes sense,” says Handler

Michael Patcher an analyst with Wedbush Morgan Securities states that if Nintendo doesn’t ship 26 million Wii systems by March 31, 2010, Ninteno would be pressured to chop the price to $199.99.

Gamestop CEO Daniel DeMatteo has been calling for price cuts on all three systems in financial calls.