Microsoft announces a price drop for the Xbox 360, lowering the price of the Pro set from $675 to $620. Taken from the press release:

SINGAPORE- August 7, 2007 - Microsoft Corp. today kicked off the greatest holiday lineup of games in history by announcing it will reduce the retail price of Xbox 360 from $675 to $620, beginning this Thursday, August 9, at Singapore retailers nationwide.

"The fact we have been able to keep our launch price longer than any other console in history, while retaining our leadership position, demonstrates consumers believe in the value of Xbox 360," said Alan Chou, Regional Marketing Manager, Entertainment & Devices Division, Microsoft. "On the eve of the best holiday games lineup in history there has never been a better time to jump-in to Xbox 360."

Xbox 360 is enhancing the value of its entire family of consoles beginning 9, August 2007. At a new price of $620, Xbox 360 Pro offers an unsurpassed experience right out of the box with a 20GB hard drive, wireless controller, Xbox 360 headset, and more. Dressed in black and equipped with a 120 GB hard drive, Xbox 360 Elite will be priced at S$799 for those who want the premium games and entertainment experience.

In addition to being a great value, Xbox 360 is the only place consumers will be able to play all three of this year's biggest titles including: "Halo 3" (Bungie), "Lost Odyssey" (Mistwalker/Artoon Co. Ltd.), and "Ninja Gaiden 2" (Tecmo).

Xbox 360 is also the home to the most exclusive games, including: "Bioshock" (2K Games), "Scene It? Lights, Camera, Action." (Screenlife), "Project Gotham Racing 4" (Bizarre Creations), "Mass Effect" (BioWare) and "Ace Combat 6: Fires of Liberation" (NAMCO BANDAI Games). With the best blockbuster games, a new price and the greatest holiday games lineup in history, Xbox 360 has proven itself as the home of the best games and entertainment at the best value.

About Xbox 360
Xbox 360 is a superior video game and entertainment system delivering the best games, unique entertainment features and a unified online gaming network that revolve around gamers. Xbox 360 will have a portfolio of more than 300 games and will be available in nearly 40 countries by the end of 2007. More information can be found online at http://www.xbox.com/xbox360.