Responding to Sony’s announcement that a new, cheaper PS3 — as well as a universal price cut to $300 — is imminent, Microsoft is understandably lowering the price of its Xbox 360 Elite to $300, matching the new PS3.

A Gizmodo reader spotted the as-yet officially unannounced $100 price cut in a Walmart ad.

Microsoft’s attempt to steal Sony’s thunder is a win for gamers who are still holding out on plunging into the current generation. Of course, the Wii is still by far the cheapest bet, and judging from Nintendo’s sales dominance, it seems the 360 and PS3 are still another price cut away from challenging the current king.

Why Hello, $299 Xbox 360 Elite [Gizmodo via Destructoid]
(Photo: Tengaport)

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