Microsoft Rumored to Announce $149 Xbox 360 Slim at E3

GFB writes: "It looks like it's all leading up to an E3 announcement where Microsoft will finally be able to reach the magic price point for consoles. A source close to Microsoft's Entertainment and Devices Division mentioned that a price cut is likely to be announced this summer. With E3 being the biggest show this summer (June to be specific), then it only makes sense that all of our questions will get answered in one big announcement.

Based on the information we have so far, we're looking at a liquidation of the current model Xbox 360s for $149. This will open up retail space for the Slims which will likely debut at $199 and then quickly drop in price once the previous "fat" SKUs have been liquidated. Microsoft did this exact same thing when they jumped to HDMI in all consoles."