Microsoft slashing price of Xbox 360 model

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Microsoft will cut the price of its most popular Xbox 360 model, the 20GB Pro, by $50 to $299 in the coming weeks, game industry sources have confirmed.

Microsoft would not comment, but a major retailer, which requested anonymity, said the price move will come before the major video game trade show, E3, which runs July 15-17 in Los Angeles.

Microsoft last cut the price of the Xbox 360 Pro -- from $399 to $349 -- in August, in many ways setting the stage for the huge successful rollout of "Halo 3" the following month.

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