Bill gates playing xbox 360Last week the rumors were flying that Xbox 360 might be receiving a price cut on August 8th, just in time for the upcoming Halo 3 release. That rumor is in fact true with Microsoft officially announcing yesterday that the price drop will start tomorrow (Wednesday, August 8th), and coincides with the release of Madden NFL 08’.

According to the Microsoft Press Release,“The fact that we have been able to keep our launch price longer than any other console while retaining our leadership position demonstrates that consumers believe in the value of Xbox 360,” said Mitch Koch, corporate vice president, Global Retail Sales and Marketing Group, Entertainment and Devices Division at Microsoft. “On the eve of the best holiday games lineup ever and the launch of ‘Madden NFL 08,’ there has never been a better time to jump into Xbox 360.”

I’d say that now was definitely a good time for Microsoft to drop the price, especially with some of the negative publicity they’ve been receiving over all of the problems with the Xbox 360 consoles, and the money that will be spent repairing/replacing them. It also places the price of the Pro Model (the most popular model) just a bit closer to the attractive price of the Nintendo Wii which will probably always remain the most affordable console available.

New Prices

The new prices are as follows for the Xbox 360:

  • Pro model:(was $399) NOW $349
  • Core System: (was $299) NOW $279
  • Elite: (was $479) NOW $449

As Todd Bishop said, “Here’s hoping you didn’t buy an Xbox 360 over the weekend.”

Source: CyberNet Forum