Xbox 360: Microsoft To Reduce Xbox 360 Price

In an effort to tap into the family gaming market, Microsoft is reducing its retail price for the Xbox 360 later this month.

Microsoft is expected to lower the price of its Xbox 360 video gaming console to compete with the more popular Nintendo Wii. The price reduction will happen later this month.

This would be the first price cut on the Xbox 360 since August 2007.

The Nintendo Wii has dominated the video game console market since its launch in 2006, consistently outselling rival consoles Xbox 360 and the Sony PlayStation 3.

A large percentage of its success has been credited to its appeal beyond the traditional gaming demographic and toward casual, family gamers.

A few game publishers have also confirmed the news of the price reduction to occur later this month.

There's no word yet how the awaited change will affect the other Xbox 360 models, the Premium and Elite.