It’s been rumored and pretty much confirmed (though not officially) that it would happen, and today, Microsoft did officially confirm it: the Xbox 360 will receive a price drop on all three models. This comes after the PS3 “price drop” (read: clearance), but not as big: the Elite will drop down $30 to $450, the Premium console down to $350, and the Core down $20 to a mere $280.
Microsoft’s official reason for the timing of the drop is to announce it near Madden 08 to lure PS2 owners (“oh, that new next-gen system just got cheap, Madden will look even better if we get it!”). Not sure how much it’ll impact sales, but I just got my 360 a few months ago…why not sooner, Microsoft…WHY?!