The Xbox 360 Premium  (Source: Microsoft)
Retail sources point to a $50 price drop for Xbox 360 on August 8

According to the Hollywood Reporter, Microsoft will cut the price of the Xbox 360 by $50 early next month. The report noted that its sources did not indicate if the $50 cut would apply to just certain Xbox 360 SKUs or across the entire line.

A retail source told the Reporter that the price cut will come on August 8 – during a period of the year that is traditionally sluggish for the videogame industry. Also, shipping on the following week is EA Sports’ Madden NFL 08 – one of the top selling game franchises in the U.S. A price reduction on the Xbox 360 would make it an even more accessible way for gamers to play the football title with next-generation presentation.

A Microsoft representative gave the expected company line with regards to the anticipation of a price drop, saying, "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 Xbox 360."

Expectations of an Xbox 360 price cut came shortly after Sony lowered the price of its 60GB PlayStation 3 by $100 to $499. One analyst forecasted that Microsoft would announce at E3 that the $299 Core system would drop to $249, the $399 Premium down to $349, and the $479 Elite to $399. Although Microsoft showed no movement on pricing at its E3 conference, industry onlookers continue to expect that a price drop to happen before the holiday season.

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