Microsoft Xbox 360 price cuts could be on horizon

After recently cutting the cost of its Xbox 360 game console during the Electronic Entertainment Expo (E3) last month, Microsoft may again launch a fresh wave of price cuts prior to the holiday shopping rush.

If true, the Xbox 360 Arcade model would be priced at $199, a price down from $249; making it the first next-generation console to hit the prized $200 price point, which Microsoft hopes will help drive sales.  The 60GB Pro model would cost $299 and the Elite 120GB model would drop down to $399.

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There also will be new hardware and software bundles that will be released before the holidays.

The information comes from the same "mole" who told Ars Technica journalist Ben Kuchera that Microsoft would publicly announce the 60GB during E3, which turned out to be accurate.

The Nintendo Wii, which sells for $249, currently is the cheapest next-gen game console available on the market.  Both Nintendo and Sony, maker of the PlayStation 3, are not expected to cut prices to their gaming consoles any time soon.  Microsoft anticipates a further price cut will help a wider audience become Xbox 360 users, who can head online to use Marketplace and new experience dashboard, and other features.

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