Microsoft announced Monday that the 20GB Xbox 360 will now be $50 cheaper, with a new retail price of $299 (note: no cuts for the Arcade or Elite). Also, the 20GB unit is being replaced by a 60GB console, which will go on sale in the US in early August 2008. This new 60GB Xbox 360 will retail for $349, the same price the 20GB model was before the cut.

Good look for you gaming heads. More bang for your buck! (Source)

(Photo Source)