Under pressure from recent introduction of new PS3 Slim at $299 price point, Microsoft today announced that starting August 28th the price of Xbox 360 Elite console will drop by $100 to $299.99 and the Xbox 360 Pro will see $50 price drop to $249.99. The price of Xbox 360 Arcade console will remain at $199.99.

Microsoft denied that the price drop was a result of introduction of PS3 Slim. Aaron Greenberg, director of product management for Microsoft’s Xbox 360 said, “We plan out what we want to do and how we do it years ahead. Many months ahead we get into the details, like the price and dates. This has been in the works for months and months.”

Whatever Microsoft may say but a price drop just few days after PS3 Slim announcement says a different story. The truth is even at $299 Xbox 360 Elite is not a match for PS3. The PS3 Slim offers way more features than Xbox 360 and upcoming games like Uncharted 2 will show true power of PS3, unless you are Xbox Live fan.
[Via SlashGear]