Xbox 360 Price Reduction

Hot on the heels of Sony’s recent $100 60GB PS3 price drop, gamers and industry analysts the world over are predicting that Microsoft will soon announce a cheaper Xbox 360.

Micheal Pachter, a Wedbush Morgan analyst who has gone on the record to predict a price drop, claimed that Microsoft will reduce the Xbox 360’s prices across the range. He said this will see the Core and Premium models’ prices both drop by $50 to $249 and $349, respectively, and the black Elite by $80 to $399. Thats £25 off in the United Kingdom for the Xbox 360’s and £40 for the Elite version of the 360. Not bad hey?

Xbox 360 Fan Boy Reckon the Wal Mart are already getting ready for the price drop by their new Ads:

And even though you can’t make out any text, you you can see that it lists the Xbox 360 premium at a $349 price point. That’s the rumored $50 price reduction. This could of course be an evil trick by Joe Photoshopper, but it is very close to what rumors we’ve heard. We’ve personally received tips from supposed advertising insiders stating that price cuts would be coming soon and vary from system to system. We’ve heard that the Core will be dropping to $279, Premium to $349 and the Elite to $459 US.

But in Japan its a different story..

There are no plans to drop its prices in Japan, stating that the console’s Japanese price is “very competitive”. This despite the console’s poor showing in the H1 2007 sales tally there.

..Darren Huston, corporate vice president at Microsoft

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UPDATE

Apparently there has been another ad this time by Toys “R” Us (check picture below)

Courtesy of Kotaku