Microsoft lowers XBox 360 price

by Steven Schwankert

August 7, 2007 —

Microsoft Corp. is lowering the price of its XBox 360 games console by $50, in an attempt to keep pace with rival Sony Corp.'s own price cuts and introduction of a new model of the Playstation 3.

The new, lower XBox 360 suggested retail price of $349.99 goes into effect August 8. Microsoft has also lowered the price on the XBox 360 Core System to $279.99.

The company hopes to stimulate renewed interest in its games console with the Aug. 14 release of Electronic Arts Inc.'s football game, "Madden NFL '08." It is also looking towards the year's most important XBox game release: the September debut of "Halo 3," the next installment of the XBox-exclusive blockbuster first-person shooter. Amazon.com currently lists the game as becoming available on September 25.

In July, Sony reduced the price of its Playstation 3 with a 60G-byte hard-disk drive to US$499, and launched a new model with an 80G-byte hard-disk drive, for US$599.

IDG News Service