Microsoft Cuts Xbox 360 Prices in Asia

Microsoft is attempting to compete more aggressively with Nintendo and Sony in Asian markets by cutting prices on the Xbox 360.

Microsoft Inc. announced Tuesday a price cutting action in four Asian markets designed to help the Xbox 360 compete more effectively with the Nintendo Wii and the Sony PlayStation 3. Those markets include Hong Kong, South Korea, Taiwan and Singapore which will see cuts from 5 to 20 percent.

According to a statement released by Microsoft, "This price drop is part of Microsoft's ongoing strategy to bring Xbox's high-definition gaming and entertainment experience to an even wider user base."

Microsoft further stated that revenue from its entertainment and devices division rose 68 percent for the year quarter ending on March 31st with a strong demand for its Xbox 360. Microsoft said that sales for the Xbox 360 which launched in November 2005 have now surpassed 19 million. The company further added that sales will remain strong during 2008 based on a growing demand for high-definition televisions and video games.