Microsoft cuts Xbox 360 price by $50

Most popular model, with 20-GB hard drive reduced to $349

070807_xbox_vmed_350a.widec Microsoft cuts Xbox 360 price by $50Microsoft Corp.’s Xbox 360 video game console will be $50 cheaper starting Wednesday, confirming fuzzy snapshots of leaked advertisements posted by bloggers in late July.

The company said its most popular console, which comes with a 20-gigabyte hard drive, will cost $349.

A basic console without a hard drive or wireless controllers will retail for $279, $20 less than its current price, while the Xbox 360 Elite, a black version with a 120-gigabyte hard drive and high-definition video support, will drop $50 to $449.

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