Microsoft cuts the price of the Xbox 360 to follow Sony's move last month of reducing the price of its core console PlayStation, media reported Wednesday.
Microsoft announced Tuesday that it would cut 50 U.S. dollars from the price of the most popular model of the console, to 349 dollars. Two other configurations of the Xbox 360 will be cut by 20 dollars and 30 dollars.
The price cut started Wednesday at U.S. retailers nationwide, in anticipation of EA's craved sequel for the NFL franchise, Madden NFL 08. The game will debut on Aug. 14 and is expected to boost sales for the Xbox 360, not only because the console is now cheaper, but because of the immense popularity that Madden NFL enjoys in the U.S. Madden NFL 08 has also been chosen as the best sports game at this year's E3, receiving the Game Critics Award.
The decision to cut the price of the Xbox 360 reflects slowing momentum for a product that plays a key role in the company’s broader consumer strategy, according to analysts.
The Xbox leads a three-way competition with Sony's more expensive PlayStation and Nintendo's cheaper Wii.
Observers said the new prices, combined with upcoming releases, are likely to boost sales.
Source:Xinhua/agencies
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