No 360 Price Drop Before Years-End

July 26th, 2006, 18:53 Posted By: wraggster

Microsoft Corp., the world's largest software maker, will not adjust prices of its Xbox 360 game console this year in response to the scheduled release of Sony Corp's PlayStation 3 in November.

Microsoft plans to cut the price of its most expensive Xbox 360 from $399 to $299, DigiTimes reported today, citing unidentified Taiwan suppliers. Microsoft denied the report, the Taipei-based newspaper said.

``Before the end of this year, we have no plans to cut the price of Xbox 360,'' Freda Lee, a spokeswoman for Microsoft in Taiwan, said in a telephone interview. ``There's no schedule yet'' for cutting prices.

Chairman Bill Gates said on May 9 that the Redmond, Washington-based company will sell 10 million of its next- generation consoles before Sony's PS3 goes on sale. The company sold 5 million of the game players by the end of June, Microsoft said in a presentation to investors on July 20.

Sony, based in Tokyo, will release its PS3 in Japan on Nov. 11 and in the U.S. and Europe on Nov. 17 at $499 for the cheapest version, compared with $299 for the least expensive XboX 360.

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