Xbox 360 ripe for a price cut?

Is the Xbox 360 ripe for a price cut of its own in the wake the 60GB PS3 price cut from $599 to $499? The official word from Microsoft is, “We have no announcements to make on pricing at this time. While price matters, content is king. And no other system is offering all the games people want to play this holiday at a better price than Xbox 360.”

Regardless of the official word, some in the industry believe that August (2007) is a prime month to see a $50 drop. This time of year is typically slower in terms of sales and, in response to the PS3 price drop, Sony has seen a 135% increase in the sales of its top five retail accounts. In addition, several big name games will be released in August as well, and that, combined with a price drop could be enough to stifle Sony’s growth in sales before the holiday season hits.

However, everyone is not convinced that a price drop will happen soon, citing that the release of Halo 3 and the special edition Halo 3 Xbox 360 would be all Microsoft needs to hold its own into the holidays.

Read [Hollywood Reporter]