Report: $50 Xbox 360 Cut in AugustDavid Ward with THR cited an unnamed retail source who said the Xbox 360 will drop by $50 on August 8 this year. It’s not clear if the price cut would affect some or all of the Xbox 360 configurations. Microsoft offers $300, $400 and $480 models. THR notes that the alleged date of the price drop is significant. Madden NFL 2008 would hit shelves soon after the drop, followed closely by John Woo Presents Stranglehold from Midway and BioShock from Irrational Games and Take-Two. Sony dropped the price on remaining 60GB PlayStation 3 stock earlier this month from $600 to $500, driving sales up 135 percent in the two weeks after the price slash, according to Sony. Sony Computer Entertainment CEO Kaz Hirai said that the 60GB console is no longer in production, as the company produces an 80GB version. Microsoft reps did not immediately return a request for comment, but the firm told THR, "We have no announcements to make on pricing at this time. While price matters, content is king. And no other system is offering all the games people want to play this holiday at a better price than Xbox 360."