Leaked ads validate rumored Xbox 360 price cut

As Gamertell has reported in two previous articles (Xbox 360 ripe for a price cut?, Rumor: Xbox 360 price cut coming soon), the rumors of an Xbox 360 price cuts have been floating around for sometime now. This past weekend those rumors were validated by two leaked ads (Wal-mart ad, Toys ‘R Us ad) which show the new price point for the Xbox 360 premium system at $349.99. At this point, one can only assume that the core and Elite system packs will receive the same $50 treatment.

While this is not an official confirmation from Microsoft, it does add fuel to the fire for the price cut to occur in the near future. If the rumored effective date for the price cut is to be believed, you can expect a press release announcement to occur on or around August 8, 2007. Hot on the heels of Sony’s PS3 price cuts, which produced a reported 135% increase in sales of PS3′s, Microsoft might be contemplating the price cut to maintain their lead in the current generation console sales race.

Read [Engadget] Read Also [CheapAssGamer]