After several weeks of speculation and rumors, Microsoft have finally confirmed that they are cutting the cost of their Xbox 360 Elite bundle console. They announced today that they will be cutting the cost of the 120GB Xbox 360 Elite console by $100 so it will now be priced at $299.99. They also announced that they will be cutting the 60GB Pro bundle by $50 making it $249.99, however, this price cut will only last until stocks last because Microsoft are currently phasing out the Pro bundle, despite it being their best selling console. Although Microsoft are cutting the Elite bundle by $100, you won’t actually save that much because they have altered the bundle ever so slightly. They will…

Some more news has popped up regarding the console price cuts. Back in July, it was reported that Microsoft and Sony were both planning price cuts for their consoles. Ever since then, not much has been done, although many rumours have been flying around. The biggest and most expected change to happen is that Microsoft would remove their Premium bundle from the market while also cutting some costs for the Elite bundle, and that Sony would be cutting the PS3 cost, and possible announcing a PS3 slim console. I’ts now appeared that on Microsoft’s part, they have started to make way for the changes. Microsoft have said to gaming retailers that they will be raising the price of the current…

A source from Ars Technica has released details about expected console price cuts and bundle changes that could be happening by the end of this year. The mole can’t be named but apparently he has a very good reputation for getting the right information involving price console price cuts. On the Sony side of the price cuts, it has been reported that the console giant is planning to reduce the price of the 160GB console bundle, cut down the amount of 80GB consoles going on sale, and finally they plan to release the 120GB Playstation 3 Slim console this autumn. The source also said that Sony are currently sending more 160GB consoles to retailers and also reducing the amount of…