“Major retailer” confirms 360 price drop at E3

Monday, 30 June 2008 09:59 GMT By Patrick Garratt

According to this Hollywood Reporter story, a “major retailer” has confirmed that Microsoft will drop the price of Xbox 360 by $50 at E3.

From the piece:

Microsoft will cut the price of its most popular Xbox 360 model, the 20GB Pro, by $50 to $299 in the coming weeks, game industry sources have confirmed.

Microsoft would not comment, but a major retailer, which requested anonymity, said the price move will come before the major video game trade show, E3, which runs July 15-17 in Los Angeles.

More through the link. Take it as a given that this is true.