July 13, 2008

20GB Xbox 360 Gets $50 Price Cut, New 60GB Model Coming Next Month, No PS3 Price Cut

targetxbox360drop(2).jpg Microsoft has cut the price of its 20GB Xbox 360 Pro model from $349 to $299 as of today , according to CNET. Rumors had been flowing around the interwebs over the past few days after snapshot of ads from retailers such as Kmart, Radioshack, and Target showed off the 360 Pro selling for $299 and it turns out for once that a rumor in the home theater industry is actually true. The confirmation was made at the E3 video gaming trade show in Los Angeles and was followed by another announcement by Microsoft that they will soon be releasing a 60GB Xbox 360 in early August for $349. The new model will debut in both the United States and Canada.

Many wondered after the Xbox rumors started if Sony's PS3 would see a similar price drop, but it seems that Microsoft's price decrease was a response to the PS3's increasing popularity lately rather than a proactive decision. In fact, Sony has vehemently denied any plans to reduce the PS3's price, saying the company is focused on profitability rather than units sold.