Store Ads Detail Xbox 360 Price Drop

Although Microsoft has remained mum on the subject, a number of retail store ads being prepared for mid-August have disclosed that the price of the Xbox 360 will be lowered by $50. The move was largely expected following Sony's $100 price drop on its now-discontinued 60GB PS3.

The Xbox 360 Premium will now be sold for $349.99, and include a copy of "Table Tennis" from Rockstar. The Xbox 360 Elite will also see a price drop, but only of $30, bringing the HDMI-equipped console to $449.99. The Xbox 360 Core, meanwhile, will cost $279.99, $20 cheaper than its original price. There are rumors, however, that Microsoft will be discontinuing production of its Core console.