Best Buy Sunday ad scan.

Target Sunday ad scan.
Microsoft prepares to drop the price on its mid-range Xbox 360 model

There have been rumors swirling around the internet for the past week that Microsoft would drop the price of its Xbox 360 Pro system from $349.99 to $299.99. The speculation was fueled by leaked ad scans from various brick and mortar retailers.

The price cut is all but confirmed by new GameStop signage which was forwarded to Engadget and Joystiq. The internal store memo shows that the price of the Xbox 360 Pro will fall to $299.99 on Sunday, July 13.

Further confirmation came today from a leaked Best Buy Sunday ad which also shows the new $299.99 price as a "$50 Price Drop". Target is going even further by not only mirroring the $299.99 price tag, but also tossing in a $25 Target gift card instantly with the purchase of an Xbox 360 Pro.

Interestingly enough, there is no word on a price cut for the current low-end Xbox 360 Core system which is priced at $279. With only $20 separating two consoles, sales of the Core are likely to take a huge dive unless Microsoft makes complementary price cuts to the system.

Microsoft last cut the price on the Xbox 360 Pro back in early August, 2007. At that time, the price was cut from $399.99 to $349.99.

Updated 7/13/2008
Microsoft made the official announcement today that the 20GB Xbox 360 will now be priced at $299.99 while supplies last. A new, 60GB model will be introduced in early August to occupy the previous $349.99 price point.

Once all supplies of the 20GB model are depleted, the Xbox 360 family will consists of the $299.99 Xbox 360 Arcade, $349.99 60GB Xbox 360, and the $449 120GB Xbox 360 Elite.



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