Microsoft plans to cut the price of its Xbox 360 Elite console from $399 to $299, matching Sony’s PS 3 Slim with a 120-gigabyte hard drive.
A leaked Wal-Mart ad is the latest sign that Microsoft is cutting $100 from the price of the Elite, which has a 120-gigabyte hard drive. But it’s not clear what will happen with Microsoft’s two other lower-priced models.
Other models include the Xbox 360 model, which sells for $299 today and has a 60-gigabyte hard drive, and its Xbox 360 Arcade, which has no hard drive and sells for $199. Microsoft could eliminate the middle model and keep the price of the Xbox 360 Arcade at $199..