Quote:
Microsoft will cut the price of its most popular Xbox 360 model, the 20GB Pro, by $50 to $299 in the coming weeks, game industry sources have confirmed.
Microsoft would not comment, but a major retailer, which requested anonymity, said the price move will come before the major video game trade show, E3, which runs July 15-17 in Los Angeles.
Microsoft last cut the price of the Xbox 360 Pro — from $399 to $349 — in August, in many ways setting the stage for the huge successful rollout of "Halo 3" the following month.


A few days ago, there were reports about an Xbox 360 price drop based upon a leaked K-Mart ad for the week of July 6th. There was some doubt that this was just a promotion being run by K-Mart alone, and not an official price reduction. Today however, the price reduction has been confirmed via a different weekly ad, this time RadioShack. So, I think its safe to chalk this one up as an official price drop; especially considering Radio Shack is notorious for overprice products and a compelte lack of decent sales or promotions.