Microsoft Xbox Console Sales Double After Price Cut (Update1)

By Dina Bass

Sept. 10 (Bloomberg) -- Microsoft Corp. doubled sales of the Xbox 360 video game machine last weekend after cutting the price by as much as 29 percent to narrow Nintendo Co.'s lead.

Retailers reported a 100 percent increase in sales for all models compared with the previous weekend, Redmond, Washington- based Microsoft said in an e-mailed statement. Some models sold at six times the previous weekend's rate. The company didn't say how many were sold.

The Sept. 5 price cut gave Microsoft a model that costs less than Nintendo's market-leading Wii for the first time.

Sony Corp.'s PlayStation 3, making inroads with new games and a Blu-ray DVD player, also beat the Xbox 360 in U.S. sales in June and July, according to NPD Group, a Port Washington, New York-based research firm.

Microsoft rose 34 cents to $26.44 at 4 p.m. New York time in Nasdaq Stock Market trading.

To contact the reporter on this story: Dina Bass in Seattle at

http://www.bloomberg.com/apps/news?pid=20601101&sid=ajZ_LMK1ZdRg&refer=japan

More here;

Coming off the heels of the console price drop last week, Microsoft Xbox 360 sales have surged, with retailers reporting over 100% sales lift for all Xbox 360 models compared to the previous weekend. Additionally, retailers are reporting that between Friday, Sept. 5 and Sunday, Sept. 7, some Xbox 360 models were selling at six times the rate they were the weekend prior.

http://kotaku.com/5048170/xbox-360s-flying-off-the-shelves-after-price-cut

I know this is good news and I know MS is probably happy but I can't be the only one that expected more, this week's numbers are not out yet but if we take last week's America's number and double it, it'll still sell less than the Wii and be just about 40% above the PS3.

Considering that you can now find it cheaper than the Wii and half the price of the PS3....I don't know I just expected more....I will wait for next week's numbers.

You expected a price cut to more than double sales?

Right.

I had predicted that the price cut wouldnt do jack until the Christmas shopping season started up, and I guess its cool I was wrong.

 What makes you think these are consumer sales?

I wasn't expecting it to rise that much.

Hmm, depending on supply, 360 might be able to outsell Wii for 1 week (in America).

The 360 will only be 2nd in America. There is no way in HELL they can catch up to the Wii and there is no way in HELL the PS3 will catch up to the 360 in America.

poor

Couple this with the comments from the executives at Gamestop today and the 360 should have a very nice month indeed if not holiday altogether.