Microsoft drops Xbox 360 price by $50, new 60GB model

July 13 2008 - Microsoft today announced the long anticipated price drop for its popular 20GB Xbox 360 console in both United States and Canada to $299, a price cut of $50. This price cut of Xbox 360 premium also brings it closer to the price of Nintendo Wii.

Microsoft also announced an upgraded Xbox 360 with a 60GB hard drive which will go on sale in stores, starting early August. This 60GB Xbox 360 console will carry a price of $349 (U.S). This new model is similar to the 20GB model, albeit with a bigger 60GB hard drive. It also comes with HDMI connection.

Albert Penello, Xbox director of product management at Microsoft, points out

“We know consumers need more and more space to store the amazing digital content Xbox 360 offers, and we’re giving it to them at no extra charge,” said Penello. “No one device offers the depth and breadth of entertainment that Xbox 360 can deliver, and now you’ll have three times the storage to manage all that great content.”

Microsoft did not announce any other price reductions to the other Xbox 360 gaming and entertainment systems.

• The Xbox 360 Arcade, which comes with a base 256 MB memory unit along with five Xbox live arcade games is still priced at $279 (U.S)

• The premium Xbox 360 Elite console which comes with a 120 GB hard drive is priced at $449 (U.S)

Early in May, Microsoft announced the milestone of 10 million Xbox 360 consoles sold and the first next generation video game console to hit this mark.  All told, Microsoft said it has sold 19 million Xboxes worldwide.

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