The new slim model for the Playstation 3 was recently released and has already boosted the struggling business for Sony. Not only is it increasing sales, the new model is also saving Sony manufacturing costs. While the Playstation 3 Slim is showing short-term benefits, the redesign is also capable of having long-term lasting positive effects for the system. Here are a few of them.
Part of the reason for Sony’s quick demise from the days of the Playstation and Playstation 2 to the Playstation 3 is the advertising. Sony just isn’t connecting with the mass market with its Playstation 3 advertisements so far.
The new look for the Playstation 3 model gives Sony a new start, however. For one thing, “Playstation 3” logo has been replaced by “PS3.” This is important because the previous advertisements for multiplatform games made it hard to see the “Playstation 3” logo compared to the Xbox 360. Furthermore, Sony is already building a strong advertising campaign with the new slogan “It only does everything.” The new brand should help boost the Playstation 3 profile in the long term.
Every since the Playstation 3 was released for the hefty price tag of $599.99, many third-party publishers were calling for Sony to drop the price of the Playstation 3 as quickly as possible. Unfortunately for Sony, the high price tag resulted in many exclusive games becoming multiplatform titles in addition to threats of boycott.
Now that the Playstation 3 Slim is released, the expensive system has dropped to a more affordable $299.99 price tag. With most of the third-party publishers satisfied, support for the Playstation 3 should remain strong for the long term.
The Playstation 3 is currently dead last in the console wars race behind the Xbox 360 and Nintendo Wii. Sony has lost a big chunk of the market share that they previously held with the Playstation 2. Although it is unlikely the Playstation 3 will skyrocket in sales and bring Sony to prominence, it can still be an asset for the company. The Playstation 3 Slim will increase demand for the system. With about 25 million units sold worldwide already, the new model can significantly boost hardware sales for the long term.
Ever since the Playstation 3 launched in late 2006, Sony has been losing money on the system. Although they still lose money for every Playstation 3 Slim sold, the amount is much less than before and can be easily made up via software and accessory sales. Now that the system is more profitable, Sony doesn’t have to worry about its financial reliance long term like they did in the past.