360 in for a $50 Price Cut?
In an effort to regain momentum in the video game console market, Microsoft will cut the price of the Xbox 360 by $50 by early august, sources have said.
The reduction will be made on August 8, according to one source in the retail world, noting that the cut will come during what traditionally has been one of the slower times of the year for game hardware sales.
A Microsoft spokesman has said: "We have no announcements to make on pricing at this time. While price matters, content is king. And no other system is offering all the games people want to play this holiday at a better price than Xbox360."
It is unclear whether the cut will effect all three versions of the Xbox360 (The Core, The Pro and The Elite) or just some of them. There are several big name titles set to ship at the time of the speculated price drop. Madden NFL 08, BioShock and John Woo Presents Stranglehold are coming to the Xbox360 in August.
Speculation of an Xbox price cut grew after Sony announced several weeks ago that it was going to be slashing the price of its 60GB PlayStation 3 from $599 to $499.
In latest sales figures, the Xbox360 and PS3 continue to trail the Wii in U.S. sales. In June the Wii outsold the Xbox360 by nearly 2-to-1. However Microsoft should get a huge boost in September with the launch of the exclusive Halo 3.
The reduction will be made on August 8, according to one source in the retail world, noting that the cut will come during what traditionally has been one of the slower times of the year for game hardware sales.
A Microsoft spokesman has said: "We have no announcements to make on pricing at this time. While price matters, content is king. And no other system is offering all the games people want to play this holiday at a better price than Xbox360."
It is unclear whether the cut will effect all three versions of the Xbox360 (The Core, The Pro and The Elite) or just some of them. There are several big name titles set to ship at the time of the speculated price drop. Madden NFL 08, BioShock and John Woo Presents Stranglehold are coming to the Xbox360 in August.
Speculation of an Xbox price cut grew after Sony announced several weeks ago that it was going to be slashing the price of its 60GB PlayStation 3 from $599 to $499.
In latest sales figures, the Xbox360 and PS3 continue to trail the Wii in U.S. sales. In June the Wii outsold the Xbox360 by nearly 2-to-1. However Microsoft should get a huge boost in September with the launch of the exclusive Halo 3.
