Microsoft's ship is leakier than swiss cheese. The long rumored price cut has finally been confirmed. The arcade version will remain at $280, 20gb at $300, 60gb at $350, and the elite at $450. Price cuts always boost sales, but it is unknown how many more consoles this will sell. I'm surprised Microsoft couldn't wait another 24hrs, but maybe they wanted to make room for another big announcement at E3 *wink*.
This puts some pressure on Sony to drop their price, but as Sony's CFO has reiterated many times, this will not happen. Sony is trying to make money back on its investment. And the way to do this is lower manufacturing and keeping the same prices. But we will see what he has to say about this when Microsoft's sales numbers come in.
Official Statement
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