Microsoft cuts Xbox game console price

Microsoft on Wednesday cut the price of its Xbox to $179.99, one day after chief rival Sony did the same with its PlayStation 2.

Microsoft Corp on Wednesday cut the price of the Xbox video game console to $179.99 in the United States, one day after chief rival Sony Corp did the same with its PlayStation 2.

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A Microsoft spokeswoman said the price cut from $199 is in effect immediately, and some retailers are already showing the new price on their Web sites.

Sony cut the PS2 price from $199 on Tuesday to clear out inventory ahead of the June launch of a redesigned PS2 with an online networking adapter bundled in the box. That package is expected to retail for $199.