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Microsoft is lowering the price of its XBox 360 games console by US$50, in an attempt to keep pace with rival Sony's price cuts and introduction of a new model of the PlayStation 3.
The new, lower XBox 360 suggested retail price of $349.99 takes effect Aug. 8. Microsoft has also lowered the price on the XBox 360 Core System to $279.99.
The company hopes to stimulate renewed interest in its games console with the Aug. 14 release of Electronic Arts' football game "Madden NFL '08." It is also looking toward the year's most important XBox game release: the September debut of "Halo 3," the next installment of the XBox-exclusive blockbuster first-person shooter. Amazon.com lists the game as becoming available Sept. 25.
In July, Sony reduced the price of its PlayStation 3 with a 60G-byte hard-disk drive to US$499, and launched a new model with an 80GB hard-disk drive, for US$599.
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