Microsoft to Cut Price of Xbox

Microsoft plans to cut the price of its best-selling Xbox 360 Pro model by $50 to $299 in the next few weeks. The price cut for the Xbox 360 model with the 20 gigabyte hard drive will come before the video game industry’s biggest trade show, E3, taking place in Los Angeles on July 15-17, the report said.

Rumors of the Xbox price cut swirled on popular gaming blogs Joystiq and Kotaku last week. The two sites received snapshots of Kmart and Radio Shack flyers advertising the $299 price.

Microsoft last cut the price of the Xbox Pro in August, from $399 to $349, prior to the release of “Halo 3” the following month. A cut to $299 makes the Xbox 360 Pro $100 less than Sony Corp’s <6758.T> PlayStation 3 with a 40 gigabyte hard drive. Microsoft is locked in a three-way competition with Nintendo’s <7974.OS> Wii and the PlayStation 3, which comes with a high-definition Blu-ray video player.

At the Game Developers Conference here on Tuesday, the rumor is that Microsoft plans on announcing Wednesday a developers kit that would make it possible for anyone to build games for the console, or for PCs, and that the kit will cost only about $100.

Source: BloggingStock

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