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Xbox 360 Price cut coming
Good news for people like me who don’t own an Xbox 360 yet. Microsoft in their quest to regain momentum and counter the surge of Playstation 3 hype (and sales) has decided to chop down the price of the console. An Official announcement is expected at E3 2008 next week.
After weeks of rumors and leaked retailer adverts, it now appears as if official confirmation has arrived for a $50 price cut to Microsoft’s Xbox 360 Pro.
Citing “people familiar with the matter,” The Wall Street Journal reports that Microsoft will lower the price of its 20GB Pro unit from $349 to $299 as early as Sunday, July 13. It could also be announced as part of Microsoft’s presentation at the E3 Media & Business Summit on the morning of Monday, July 14.
The timing of Microsoft’s announcement comes as Xbox 360 is lagging behind in the console race. Whereas the console thumped the PlayStation 3 in terms of sales in 2007, Microsoft has lost ground to Sony in 2008. Besides the launch of high-profile PS3 exclusive Metal Gear Solid 4, Sony’s console has also benefited from Blu-ray Disc’s victory in the high-definition video format war following the collapse of the Microsoft-supported HD-DVD. Another major factor is last fall’s introduction of the $399 40GB PS3, which put the console in the same ball park as Microsoft’s 20GB then-$349 Xbox 360 Pro.
