If there were one main obstacle impeding the Xbox One's intended global domination of the gaming space, it's the steep price point of $500.

The console, according to Wedbush Morgan’s US analyst Michael Pachter, could see a price reduction far sooner than anticipated.

"We think 'winning' is important to both companies." Pachter told investors.

"It is possible that Microsoft will reduce Xbox One pricing far faster than we have forecasted. Should hardware prices come down faster than we have modelled, it is likely that hardware and software sales will grow faster."

A price cut for both Sony and Microsoft is an inevitability for their fledgling consoles. It's simply a question of when those reductions might be implemented. There was speculation that Microsoft could release an Xbox One sans Kinect in Summer 2014, with a $100 price cut, but that still remains rumor. 

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(Via MCV)