Xbox 360 Price Cut Close to Being Official

When does something become "official"? Usually, when the company in charge of the product talks to the public and the press and confirms what people have been talking about for some time. Well, when it comes to Microsoft, things don't generally work this way. The software giant tends to play upon rumors, first ignoring, then denying them and finally letting slip just enough information to make most people understand what's going to happen right before the company holds a press conference to "officially" announce its move.

This pattern was followed to the letter when it came to the long rumored price cuts for the Xbox 360 gaming consoles. First, there were comments from analysts saying that the Xbox 360 needed price cuts to make up for the ground it lost in the first period of 2008 to its rival, the PlayStation 3. Then, there were the unconfirmed leaks from some game resellers which said that a 50 dollar cut is in the making. Finally, we reported on the apparent Microsoft e-mail leaked mentioning a new 60 GB model that would replace the current 20 GB.

Now, the Wall Street Journal, one of the most respectable business publications in the world, is talking about a price cut. Mentioning that the information is coming from "people familiar with the matter", the news outlet is reporting that Sunday could see the 20 GB version of the Xbox 360 go from 349 dollars to 299 dollars, with the move becoming official at the presentation which Microsoft will hold on Monday at E3.

The Redmond giant last slashed prices for its console in August 2007 when the Elite version shed 30 dollars from its price as the Pro version got a 50 dollar price cut. It's currently not known whether the price drop serves as a move designed to ease the transition from the 20 GB model to the 60 GB for the entry level Arcade model or not.