Microsoft Slashes Xbox 360 Prices in North America

NEWYou can now listen to Fox News articles!

It's sale time at Microsoft's video-game division.

The tech giant announced Wednesday it was slashing prices on all three editions of its Xbox 360 home console, with the low-end version coming in at $199, 50 bucks less than Nintendo's top-selling Wii.

That's for the Arcade model, which comes without a hard drive to save games. It was formerly $279.

The mid-level Xbox 360 Pro, with a 60-GB hard drive, drops from $349 to $299. The top-end, all-black Xbox 360 Elite, which has a 120-GB hard drive and comes bundled with an HDMI cable for high-def TVs, goes from $449 to $399.

Microsoft similarly cut Xbox 360 prices in Japan last month. Sales of the console, which was introduced nearly three years ago, have been slowing.

Sony's more expensive PlayStation 3 has been jockeying with the 360 for second place in monthly North American sales for most of 2008, but both have been consistently outsold by the mass-appeal Wii.

• Click here for more on this story from Reuters.