An anonymous industry tipster alerted The Hollywood Reporter of an upcoming price cut to Microsoft’s bestselling Xbox 360 model, the 20GB Pro.
According to the report, Microsoft will slash $50 off the Xbox 360 20GB Pro price, bringing it down to $299 from $349.
The move will place the model a full $100 less than Sony’s entry level 40GB Playstation 3, priced at $399. There are currently no indications pointing towards a PS3 price cut, especially after Sony’s annual report revealed the company has lost $3.3 billion since PS3 launched by pricing it less than what it cost to manufacture.
Microsoft is expected to formally announce the price cut before the annual E3 Summit kicks off in Los Angeles, CA the week of July 14.
The price cut is expected to take effect before the holiday season when a pair of huge Xbox 360 exclusive sequels, Fable 2 and Gears of War 2, make their long-awaited debut.
