The rumors have been flying around again. And this time it seems to be true. According to gaming blog Joystiq, all three Xbox 360 models will be getting a price cut. The gaming blog stated the following:

“A few of our retail contacts, some of whom have given us good intel in the past–and who all work for separate corporations–have sent us identical information regarding a price drop.”

The rumors seem to be true due to a recent Radio Shack newspaper advertisement. All three Xbox models on the advertisement have a price drop. The 120GB Xbox 360 Elite is listed at $399, a price drop from $449. The new 60GB Xbox 360 Pro model is listed at $299, a price drop from $349. And the Xbox 360 Arcade, which does not have a hard drive, is listed at only $199, a price drop from $279. These price drops make them very competitive with the Sony PS3, which is listed at $399 for a 80GB model, as well as the Nintendo Wii, which is listed at $249. Microsoft has yet to have a official response to the rumors.

- Geoff

[Source: Joystiq]