$50 Xbox 360 Price Cut Shown in Second Retailer Ad

Lending further credence to last week's leak of a possible $50 price cut for the Xbox 360 Premium, scans of an upcoming ad flier from electronics retailer Radio Shack have also listed the console at a $299.99 price point.

According to Joystiq, the scans were sent by a Radio Shack employee who claimed that the new price is to take effect on July 13. The Premium version of the Xbox 360, which includes a wireless controller and 20GB hard drive, presently retails for $349.99.

Moreover, the Hollywood Reporter claims to have confirmed the price cut with industry sources. The price reduction is said to be planned for an official announcement before next month's E3 Media and Business Summit, which kicks off on July 15.

Rumors of a possible price cut flared last week when a ad flier from retailer K-Mart showed the Premium edition of the Xbox 360 listed for $299.99.

Neither K-Mart's ad nor the recently revealed Radio Shack flier indicate whether the other currently available Xbox 360 models—the Arcade and Elite units, respectively priced at $279.99 and $449.99—would see similar drops.