Xbox 360 gets price cut

Microsoft Corp said Monday it will cut the price of its main Xbox 360 video game console model by about 13 percent in the United States, hoping to boost sales ahead of the crucial holiday season.

The move reduces the price of the Xbox 360 Premium model by $50, to $350, and follows a move last month by rival Sony Corp to cut the price of its PlayStation 3 machine by 17 percent, to $500.

Faced with unexpectedly strong competition from Nintendo Co Ltd's cheaper Wii console, Microsoft is aiming at expanding the appeal of the Xbox 360 to an audience outside its core fan base of young men.

"As we look to the holidays we want to bring in more gamers and lower the price for those customers," the Xbox 360's group product manager, Aaron Greenberg, said in an interview.