Microsoft Announces Xbox 360 Price Drop

Finally lending official confirmation to one of the company's worst-kept secrets, Microsoft has announced incoming price drops to all three tiers of its Xbox 360 console. The price changes will go into effect in the United States this Wednesday, August 8.

As previously reported, the standard 20GB Xbox 360 system will drop $50 to $349.99, the Core unit sans hard drive will drop $20 to $279.99, and the 120GB Elite unit will drop $30 to $449.99. Furthermore, Microsoft will be launching a 20GB Halo 3 Special Edition model (headset, but not Halo 3, included) this September for $399.99.