Xbox 360 officially lighter on the wallet

If you have been putting-off a next-gen console purchase, then this is the right time for you to lighten your wallet. Earlier, Sony had dropped the prices of the 60 GB PS3 and now Microsoft has followed suit with lowered prices going into effect today (August 8, 2007).

A Premium Xbox 360 will now cost $349.99, which is $50 less than its previous price while the core version will be $20 cheaper and will retail at $279.99. Even the Elite Xbox 360′s price has been cut and now seems more enticing at …