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Old 03-07-2008, 05:27 AM   #1
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[] Microsoft Slashing the Price of Xbox 360 Console Variant

Industry sources confirm that Microsoft will be cutting the prices of its popular Xbox 360 gaming console variant, the 20GB Pro by US $50, bringing it down to US $299. A major retailer said that this move would come in before E3 which runs July 15-17 in Los Angeles.

The previous price-cut to this console was during the launch period of Halo 3, where the price cut from $399 ro $349. This slash is more of a ploy to increase the product's competitiveness against the Nintendo Wii while also making it a good deal over the Blu-ray-equipped PlayStation 3 in terms of market share, even so with the holiday season around the corner. While Sony could be pondering its own price cut, the consumer electronics giant did note recently in an annual report that the PlayStation 3 has cost the company $3.3 billion since its late 2006 launch because of a strategic decision to sell the system for less than it costs to make.

Source: The Hollywood Reporter

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