The holiday game console price wars have begun!
Thursday August 27, 2009 Microsoft confirmed weeks of speculation and formally announced a $100 dollar price drop of its Xbox 360 Elite console, now set at $299 dollars.
"With the holiday season right around the corner, it's already time to start looking for entertainment and gifts that everyone will enjoy," said Shane Kim, corporate vice president of strategy and business development for the Interactive Entertainment Business at Microsoft Corp. If you are looking for great experiences that donít require deep pockets, now is the time to purchase an Xbox 360 Console ."
The new Elite discount, which is stacked with a 120 GB hard drive, replaces the company's standard 60 GB Xbox 360 Pro model, which itself will get a good a $50 dollar price cut (to $249 dollars) while supplies are in stock. Microsoft will continue to sell the budget-minded but feature-lite Xbox 360 Arcade model alongside the Elite at its current price of $199 dollars.
The price drop comes just weeks after Sony dropped the price on the PlayStation 3 console. With Microsoft's cut, both the Xbox 360 Elite and the Playstation 3 Slim now share a $299 price tag, making this a close battle over the first recession holiday season.