A price cut for Microsoft's XBox 360 from it's $349 tag down to $299 has been all but confirmed by retailer advertisements. The price reduction which is expected before the E3 Trade Show could be signs of a new 60GB XBox 360 version.
Although there are numerous reports of the XBox 360 Pro model getting approximately $50 dollars shaved off its $349 to $299, Microsoft has no way confirmed this report officially. However, everyone from the Wall Street Journal, Gamespot, and CNet or gossiping about the plans and the recent leaks of photos of retailers advertisements such as Best Buy, Kmart, and other circulars as well as an alleged GameStop employee's cell-phone snapshots of shelf art and an internal memo announcing that the XBox 360 Pro will be dropping to $299.99 come Sunday, July 13, 2008.
Reportedly, the price drop will come right before the video game industry's largest trade show E3, which is scheduled to take place in Los Angeles the following day in which Microsoft will be holding a press conference.
While Microsoft is remaining hush hush at the moment, it is being stated that Microsoft is using the price reduction to clear out the inventory of the 20GB XBox 360 Pro models before it brings out a new 60GB version of the gaming console.