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Xbox 360 Halo 3 Special Edition Console will be priced at $399.99  (Source: Microsoft)

The Xbox 360 Premium will now feature an MSRP of $349.99  (Source: Microsoft)
Microsoft's Xbox 360 gets its first official price cut

When Sony cut the price on its 60GB PlayStation 3, the industry turned its spotlight on Microsoft for a response. Shortly after Sony's price cut, Wedbush Morgan Securities analyst Michael Pachter predicted that Microsoft would cut the price of the Xbox 360 Elite, Premium and Core to $399, $349 and $249 respectively.

Shortly after Pachter's comments, Microsoft Game Studios VP Shane Kim hinted that a price cut was indeed in store for the Xbox 360. Kim noted that Microsoft needed to better compete with Wii in the entry-level arena. "We need to compete effectively for that customer and part of that is getting to the mass market price point for the console. We definitely are working on that area," remarked Kim.

"The timing depends on a lot of different factors and we'll just keep evaluating those," added Microsoft's Robbie Bach.

The chatter surrounding the price cuts became deafening once leaked sales flyers for major retailers began hitting the web. Ads for Wal-Mart and Toy "R" Us showed the Xbox 360 Premium priced at $349. One day later, a Circuit City ad was leaked which mirrored the $349 price for the Premium and added $449 and $279 price tags for the Elite and Core respectively.

Today, Microsoft officially announced the price drops for the three existing Xbox 360 SKUs. Beginning August 8, the Elite, Premium and Core will carry an MSRP of $449.99, $349.99 and $279.99 respectively.

In addition, the previously announced Xbox 360 Halo 3 Special Edition Console will be priced at $399.99 when it hits store shelves in September. The Halo 3-themed Xbox 360 features an HDMI port like the more expensive Elite and an "authentic Spartan green-and-gold finish." Microsoft also notes that the console will come with a Play and Charge kit.

Those that rush out to buy the new cheaper Xbox 360s may wish to go ahead and register for Microsoft’s new online service site for the console – it’s likely that you may need it in the future. In fact, many may just simply want to wait until the new Falcon-based Xbox 360s hit store shelves despite the current temptation of lower prices.

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RE: Still not satisfied
By therealnickdanger on 8/7/2007 2:02:28 PM , Rating: 1
Yeah, we've been over this before: 3 years is RROD only, I know, I never said anything to the contrary. And yes, you can add 2 years on to that via Best Buy's extended warranty. Not sure why that's hard to understand. Does 3+2 not equal 5? I admit I did that math off the top of my head and without a calculator, so forgive me if it is incorrect.

Hey, I'd love 100% guarantees on everything in life too, but it's not gonna happen. I'm not suggesting you adopt a new philosophy based on a rule of 70%, it's just that assuming it were truly that bad at one point, the problem has been identified, a fix is in place, a warranty is out there to more than protect customers' investment, and there's a slew of great games out now with more on the way. The juice is worth the squeeze. :P

RE: Still not satisfied
By mdogs444 on 8/7/2007 2:07:49 PM , Rating: 2
And yes, you can add 2 years on to that via Best Buy's extended warranty. Not sure why that's hard to understand. Does 3+2 not equal 5

no there is no 3+2.

Best buy will offer a 2 or 3 year warranty. It starts immediately, not after the MS warranty ends. And if it did start when the MS one ended, it would still only be for you 3 years max. The actual warranty on the 360 is 1 year, not 3 years.

"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard

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