Xbox 360 price cut hits Sept. 5

It’s official, Microsoft announced today that the Xbox 360 will be getting a price cut this Friday, Sept 5. The new price shapes up like this:

* Xbox 360 Arcade - $199
* Xbox 360 - $299
* Xbox 360 Elite - $399

Hardcore gamers rejoice; the Xbox 360 is now the most affordable console. Take that Wii.

Read: Xbox 360 price cuts official as of Sept. 5: 60GB $299, Elite $399, Arcade $199.