Microsoft Corp. on Monday cut the price on its Xbox video game console, in an expected move seen as a boost to the game publishing industry ahead of its biggest gathering of the year. Microsoft, based in Redmond, Washington, cut the Xbox price to $149.99 from $179.99 and also trimmed prices on software such as the karaoke game "Xbox Music Mixer," "Project Gotham Racing 2" and "Crimson Skies: High Road to Revenge."
The Xbox price cut is effective Tuesday, while the software cuts take effect Monday and Tuesday. The Xbox was released at $299 in November 2001. The price dropped to $199 in May 2002 at the E3 industry trade show and to $179 in May 2003, at the same event. The new price was widely expected to come at some point before this year's E3. The move is a change in strategy for Microsoft, which previously cut the XBox price only after similar pricing moves from industry leader Sony Corp. on the PlayStation 2.
News source: Reuters
