Microsoft has cut the price of the Xbox 360, ending months of idle speculation. The Premium SKU’s price drops by $50 to $350, the Core by $20 to $280 and the Elite by $30 to $450. All price cuts go into effect tomorrow, August 8.
For once, a rumor turned out to be true. The Circuit City ads that Peter mentioned were spot-on, accurately predicting the official price cut.
As for why Redmond decided to slash the price of the system, it’s as you’d expect: Holidays approaching, want to reach new (read: less affluent) audiences, etc. Never mind that it puts Sony in the awkward position of having the most expensive console out there.
I remember the days when my father, feeling guilty about being at work all day, would buy me all of the currently available systems. Better times.