SINGAPORE -(Dow Jones)- Microsoft Corp. (MSFT) Tuesday said it has cut the price of its Xbox 360 video game console in four Asian markets.
The estimated retail price for the model with a 20-gigabyte hard drive was cut 19.5% in Singapore to S$499 Tuesday, while that in Taiwan was cut 17% to NT$10, 360.
The unit price in Hong Kong fell 10.7% to HK$2,499 Tuesday, while that in South Korea will be cut 5.1% to KRW369,000 on Thursday.
"This price drop is part of Microsoft's ongoing strategy to bring Xbox's high- definition gaming and entertainment experience to an even wider user base," Microsoft said in a statement.
Microsoft also cut the price of its Xbox 360 Arcade model, which lacks a hard drive, by 13.1% to S$399, in Singapore. The price for the Xbox 360 Elite model, which comes with a 120-gigabyte hard drive, was cut 12.5% to S$699 in Singapore.
Microsoft has officially launched Xbox 360 in five markets in Asia - Hong Kong, India, Singapore, South Korea and Taiwan.
"If and when price adjustments in other regions make sense, we will be sure to keep you informed, but we have nothing to announce at this time," the company said.
The company said on April 24 that revenue from its entertainment and devices division rose 68% on year for the quarter ended March 31 on strong demand for its Xbox 360.
Microsoft said cumulative sales for the Xbox 360, launched in November 2005, " surpassed 19 million" during the quarter, up 74% from a year earlier.
The company has said sales for the Xbox 360 will remain strong in 2008 on growing demand for high-definition television, given the console's focus on HD games.
