I’ve just heard over the ever faithful Internet that the intense speculation of a price drop following the release of the XBox 360 Elite is to come true as of August 24th. Interestingly the price drop is as major as was being suggested as well, with the new Elite itself also getting a fairly hefty amount chopped off the price.

So on August 24th any new buyers will be able to buy an Elite for £299…an almost £40 drop, while the Premium (the choice amongst dedicated gamers) will be going down £30 to £249.99 and the low-end system, the Core is to drop to £179.99. With the Playstation 3 having received such bad press despite the teething troubles of the XBox 360, I think Microsoft may have cornered the console market.

It’s still got to fight with the Wiiiiiiiii though.

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