Microsoft will cut the price of the Xbox 360 by $50 to $80 on Friday in a bid to woo more mainstream audiences to its games and entertainment system during the upcoming holiday shopping season.
The company announced the price cuts this afternoon, noting that its lowest-price Xbox 360 Arcade model, which will sell for $199.99 on Friday, will be the cheapest current-generation system, undercutting the market-leading Nintendo Wii.
The three Xbox models and their new U.S. prices are as follows:
Xbox 360 Arcade, $199.99, was $279.99;
Xbox 360 with 60 gigabyte hard drive, $299.99, was $349.99;
Xbox 360 Elite with 120 gigabyte hard drive, $399.99, was $449.99.
Check back for more detail and reaction.
In the meantime, if you’re planning on buying a new console in the next four months, which one and why? Will the price cuts influence your choice?