Since Sony's PS3 price drop, eyes have been glued on Microsoft to see whether they'd adjust their prices to reflect the shift in all other next-gen consoles diving below the 300 dollar mark. After rumors, speculation, and retail circular ads, Microsoft has confirmed that the Xbox 360 Elite will get a $100 price cut, starting tomorrow, for a price of $299.
The 120GB Elite is the same size as the new PS3 Slim, which also has a $299 price point. Additionally, Microsoft announced that the 60GB Xbox 360 Pro models, which has secretly been discontinued, will be reduced to $249.99 while supplies last.
It is very interesting to see all current Nintendo, Sony and Microsoft next-gen consoles under the $299 mark, however in this economy, this should prove to be a wise move for the industry.
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