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Microsoft cuts price of Xbox 360

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A week after Sony announced a $299 redesigned PS3, Microsoft today has said it plans to cut the price of its 120 GB, HDMI-enabled Elite console by $100, bringing its price point in line with the PS3. The $299 Elites will no longer include an HDMI cable. Also, the Pro units, which currently retail for $249, are being phased out and will no longer be produced. The Arcade unit, which does not include a hard drive, will remain $199.

PS3 gets a price cut!

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Yes, you read the headline correctly. Sony announced today during Europe’s GamesCom that the new PS3 Slim was, in fact, a reality and would retail for $299 beginning in early September. Until the new consoles hit the market, the prices of Sony’s current PS3 offerings are being slashed accordingly — the 80 GB version will sell for $299 and the 160 GB for $399. The PS3 Slim will feature a 120 GB hard drive. So if you still haven’t picked up a PS3, now might be the time.