Wedbush Morgan analyst Michael Pachter has said the new Xbox 360 accounted for 40 percent of Microsoft’s overall US sales in June.
Pachter said the price drop, rather than the release of a new model, accounted for most of the sales.
The analyst attributed 35 percent of sales to the Arcade model, which was reduced to $150 last month, and 25% of sales to the Elite model, which also reduced in price.
US retailer Wal-Mart was offering a $50 gift card with each Xbox Arcade purchased.
The new 250GB Xbox 360 was released in the UK and Europe yesterday.