Andre Yoskowitz
13 Jul 2008 13:44
Ending all speculation, Microsoft has finally officially confirmed that it is cutting the price on its Xbox 360 Pro model by $50 USD as well as introducing a new 60GB model that will retail for $349 USD.
Starting today the 20GB Pro model will sell for $299. The software giant says the new model will go on sale beginning in early August. Strangely though, Microsoft will continue to sell their stripped down Arcade model for $279. The Elite model will stay with its $449 pricetag.
Albert Penello, Xbox director of product management, explained the release of the new model.
“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,” he said.
The confirmation puts an end to a poorly kept secret. For weeks now flyers from different retailers have shown off the $50 dollar price cut, yet Microsoft refused to comment.
The price cut is seen as a way for the company to pick up lagging sales. For 2008, the console is constantly being outsold by the Wii and the PlayStation 3 and both Nintendo and Sony have said they are not planning a price cut for 2008. The Wii retails for $250 and is still hard to find on retail shelves, while the 40GB model of the PS3 sells for $400.
When asked about the new price cut, Sony's Howard Stringer said that it was simply "evidence that the Xbox 360 was falling behind in the contest for sales."