Microsoft To Cut Xbox Prices In Four Asian Markets

Redmond, WA (AHN) - Microsoft said Tuesday it has cut by up to 20 percent the price of its Xbox 360 videogame console in four Asian markets.

The 20-gigabyte model Tuesday was slashed 19.5 percent to $366 in Singapore and 17 percent to $341 in Taiwan. Later this week, Microsoft will cut Xbox 360 prices by 10.7 percent to $321 in Hong Kong and 5.1 percent to $369 in South Korea.

The Redmond, Wash.-based software maker said the price cuts were to expand the Xbox 360 audience, which lags behind rivals Nintendo and Sony.

Although the Asian price cuts did not include the Indian market, Microsoft said in a statement it would announce further price reductions later when they "make sense."

Earlier in April, Microsoft reported Xbox 360 sales for the quarter exceeded 19 million, a 74 percent increased compared to the previous year, the Wall Street Journal said.