Rumor: Xbox 360 to Receive Price Cut to $299.99 in July

260w ago - Per Master X of HighDefDigest, according to an ad circular from retailer K-Mart for the week beginning July 6 the Xbox 360 Premium will carry a price point of $299.99, a $50 reduction compared to the current MSRP of $349.99.

Sounds like a smart move, especially since this would go into effect the week before E3. It's unknown at this point if the Core and Elite models will receive a similar price cut as well, but I don't see why not.

If Microsoft cuts off only $20 from the Core model, it'll effectively match the price point of the Wii.

Obviously, Microsoft has yet to officially announce any price cuts, so we're filing this under rumor for now, but expect official word soon.