The price cut on Microsoft's XBox 360 makes it way around the Internet, while Sony states that it has no plan to cut prices of its Playstation 3.
While rumors and gossip of the price cut on the Xbox 360 makes it way around the Internet, Microsoft is preparing for its press conference at the largest computer and video games industry's trade event, E3 also known as the E3 Media and Business Summit or formerly Electronic Entertainment Expo which takes place in Los Angeles from July 14th - 18th and is presented by the Entertainment Software Association (ESA).
While talk is going on about the XBox receiving a price reduction from $349 to $299 due to leaks of photos, and retailer advertisements and an internal memo, come Sunday, July 13, 2008 one day before the E3 trade show, Microsoft has remained quite on the subject.
As previously reported on MemphisRap.com, 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.
For those that don't know about the E3 trade event, it's known for attracting gamers and computer fanatics looking for the next hot games and hardware.
While the Microsoft's XBox 360 Pro model is receiving a price reduction, Sony states that it has no plan to cut prices of its Playstation. Price cuts for Nintendo are also unlikely due to the Nintendo Wii being in short supply at many retailers.