Not long after Sony announced the price slash on its slim PS3, Microsoft is also looking for way to stay competitively in the stiff market place. Good news for those Xbox console’s lovers now, the giant console maker has just confirmed the decision to lower the current retail price for its Xbox product lines.

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The new price slash will put Xbox 360 Elite at the same price tag of $299, as similar to the new 120GB PS3 Slim version. Although it seems to be still lacking of Blu-ray drive as compared to PS3 console, but the direct Netflix support for online media streaming will able to bring in additional bonus for its subscribed users to compensate for its shortcoming. At the same price, the Xbox 360 Pro will be priced at $249, while the Arcade series will sit at bottom price of $199 under Xbox 360 families so that they are well differentiated and fitted into different category of consumers’ needs. The price adjustment will be immediate effective by this week, ready before the holiday season and it is expected to drive a new wave of high end consoles, games and accessories purchase in this segment.

The new strategy would definitely benefit end users especially in current economic downturn. Meanwhile, some do hope Nintendo will follow the trend so that the its Wii could be more affordable for every household.

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