He said that the price cut will affect all three Xbox 360 models. The $299 Core pack will drop to $249; the $399 Premium pack will drop to $349; and the recently released $479 Elite model will drop to $399.
Such a price cut would be a likely move for Microsoft following the PS3 pricing announcement today. Sony dropped the price of the 60GB PS3 from $599 to $499 and announced an 80GB PS3 with MotorStorm bundled for $599. The price drop appears to be in response to lower-than-expected sales of the console.
The drop in PS3 price puts the standard 60-gigger precariously close in price to the top-end Xbox 360 Elite, which is currently priced at $479.
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