September 03, 2008, 9:07 PM — After multiple retail leaks, Microsoft on Wednesday finally announced US$50 to $80 price cuts on all Xbox 360 models.
Starting this Friday, Xbox 360 Arcade (without hard drive) will retail for $199.99, followed by the Xbox 360 Pro for $299.99, and Xbox 360 Elite for $399.99. The news has been widely known for two weeks now, thanks to early retail fliers.
"We are thrilled to be the first next-generation console on the market to reach $199," said Xbox president Don Mattrick. "The majority of consumers make the decision to buy consoles once the price falls to this mark, making this an important milestone for consumers and the industry."
As it currently stands, the Nintendo Wii retails for $250, making the Xbox 360 Arcade the most affordable console available. The PlayStation 3, by contrast, currently sells for $399 and $499 depending on the model.
You can read GamePro's recent review of the $199 Xbox 360 Arcade here.
