In an effort to boost Xbox 360, sources say Microsoft will reduce the console’s price by $50 on August 8, just prior to the release of Halo 3. When asked for comment, a Microsoft spokesman said the company has no announcements to make on pricing at this time. The rumor comes on the heels of pre-E3 expectations by analysts that Microsoft would drop the 360′s price by $100. That expectation was denied, however, as Microsoft made no price drop earlier this month, even though Sony dropped the price of its PS3 from $599 to $499.

Source: PC World