console price drops abound

Hot on the heels of Sony's announcement of the new PS3 Slim model priced at $299 with a 120 GB hard drive, Microsoft has made its official announcement regarding its own video game console price drops this month. The $299 Pro system, equipped with a 60 GB hard drive, will be dropped to $249 and subsequently phased out while the $399 120 GB Elite system will be reduced to $299. The no-frills Arcade system will remain at $199. Also, there are no plans for a competing Xbox 360 Slim model in response to Sony's slimmer console, according to Aaron Greenberg, the Director of Product Marketing for Xbox 360 and XBLA. So, if you've ever considered taking the plunge into console ownership, now might be the time since for $299 you can have your pick of the 360 or PS3, both with a monster 120 GB drive.

Microsoft confirms price cut, denies "Xbox 360 Slim" rumors