Microsoft has finally announced a price drop to the Xbox 360 console effective August 8th. The new prices for the Xbox 360 consoles are as follows:

• The Xbox 360 Core System will sell for $279.99
• The Xbox 360 (Premium) System will sell for $349.99
• The Xbox 360 Elite System will sell for $449.99

In addition to the anticipated price drops, Microsoft also announced that the price for the upcoming Xbox 360 Halo 3 Special Edition console will be $399.99. The Halo 3 Special Edition console will feature an authentic Spartan green-and-gold finish, matching Xbox 360 Wireless Controller, a 20GB hard drive, an Xbox 360 headset, an Xbox 360 Play and Charge Kit, and more.

Finally, Microsoft also announced some of the upcoming game titles for the holiday season.

• Guitar Hero III : Legends of Rock
• Halo 3
• Madden NFL 08
• Rock Band
• BioShock
• Lost Odyssey
• Blue Dragon
• Scene It? Lights, Camera, Action
• Project Gotham Racing 4
• Mass Effect
• NARUTO: Rise of a Ninja
• Ace Combat 6: Fires of Liberation

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Technorati Tags: Xbox 360, Price drop