Microsoft has officially announced price drop for Xbox 360, effective Friday August 28, the 60GB model will be reduced to US$249 and it will be phased out while supplies last; and the 120GB Xbox 360 Elite will be reduced to US$299, but the HDMI cable will no longer be included in the system. The Xbox 360 Arcade system will remain at US$199.99 with no change in price.

That's tomorrow

man i bought my pro for that price since my old xbox crash that bull man they might as well put lifetime warranty on the pro too

Microsoft just loves to copy everybody. They copy Apple with OS X and their stores, now their copying Sony with a 120GB at $299 and they also took out the HDMI cable. Really Microsoft?

Great job Ms, Xbox 360 will get a major boost this holiday, as deserved.

Yeah, that's it dude.

well they did copy this move...

http://www.joystiq.com/2008/07/15/sony-announces-80gb-ps3-will-be-399-in-sept/

Actually, it will barely give a boost.

Hey just like the slim. Both will do great but next year both will reach its peak.

It will barely boost because, if anyone wanted a 360, they would have already bought the $199 arcade, most likely.

Never said it wouldn't boost, it will but barely, not a huge difference.

The slim will have a higher boost, because think of it.. the reality, people would look at the PS3 and say "thats too much for me", and buy a 360.

But now, the tables have turned, and the prices are the same (as the elite).. IN MY OPINION you get more out of a $299 PS3 than a $299 xbox 360 elite, its my opinion so don't jump all over me for it!