Since Sony announced US price cuts for the PS3, analysts are predicting that the Xbox 360 could follow suit in the near future – so it could be worth holding out for a while if you want to adopt HD gaming.
The price of the Xbox 360 hasn't changed for over a year now but according to Wedbush Securities analysts Microsoft will announce a price cut at the E3 press conference today.
Analyst, Michael Patcher, stated that the Xbox price cut will be across the entire range of consoles – the Core pack will drop from $299 to $249, the Premium pack from $399 to $349 and recently released Elite console will fall from $479 to $399.
Pachter said, "...The value proposition for the PS3 is increased at the new lower price point, putting increased pressure on Microsoft to cut the price of its Xbox 360. The 80GB and 60GB PS3 models compare favourably to the 120GB and 20GB Xbox 360 models."
This is after Microsoft responded to Sony's price cuts with a 'we'll see what happens' comment. However, Microsoft claims it has no plans to drop the Xbox 360 price in the major market where it struggles, Japan. And, like the PS3, there's been no confirmation that the price cuts will reach Europe.
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