New report points to pre-E3 360 price cut

More weight has been thrown behind

speculation that Microsoft is set to cut the price of Xbox 360 in the US

before E3 next month.

The Hollywood Reporter cites ‘industry sources’ suggesting that the platform holder will drop the SRP of the 20GB Pro model by $50 to $299 in the coming weeks.

According to the publication, an anonymous ‘major retailer’ confirmed the news, but Microsoft US would not comment.

Microsoft cut the price of the Xbox 360 on both sides of the Atlantic in August, 2007.

Europe enjoyed a further cut in March this year.