Xbox 360 Halo 3 ModCome August 8th the Xbox 360 might be seeing a $50 price cut! Both Hollywood Reporter and Xbox Scene are reporting the news, although Xbox Scene wasn’t given the details on the amount of the price drop.

There was also no reference as to which models would get their prices slashed. I would guess that it would be across the board, which would mean that the Core model would go from $299 to $249, the Pro model would go from $399 to $349, and the Elite model would go from $479 to $429. For the sake of having nice numbers we’ll guess that the Elite model will actually drop down to $399. :)

So why would Microsoft possibly be dropping the price? I’m guessing one of the reasons is that it will put the Core model at the same price as the Nintendo Wii, which will be appealing to families looking to purchase a cheap console. I’m guessing the other reason that they are looking to drop the price is to prepare for the launch of Halo 3 on September 25th. This game is sure to attract new Xbox 360 owners, and with a reduced price on the system it is almost like you get the game for free.

I think I’d rather pick up a Wii, but Halo 3 would be quite fun to play with some friends.

Note: The image above is of a modded Xbox 360 case with a custom Halo 3 paint job. For more great Xbox 360 mods see this post.