SAN FRANCISCO (MCT) — Microsoft Corp. has cut the price of its top-end Xbox 360 gaming console by $100, matching a similar move by archrival Sony Corp.
In a statement Thursday, Microsoft said it has reduced the price of its Xbox 360 Elite to $299. The move brings the console in line with the comparable PlayStation 3. Microsoft also trimmed the price on its 20GB Xbox 360 Pro by $50, as an effort to clear out remaining consoles before discontinuing the product. The basic Xbox 360 Arcade version will remain at $199.
The move came as little surprise, as the video game industry is dealing with a 5-month-long sales slump. Most of this year's hot titles are slated for release in the holiday shopping season, so analysts widely expected console makers to trim their prices to stoke demand.