While the Xbox 360 has already gotten a price reduction in the States, it hasn't yet in Japan. That will change tomorrow when the company shaves the console's price tag for the region.
According to Microsoft Hong Kong, the Japanese arm of the company is holding a press conference in Tokyo tomorrow to announce the Xbox 360 price cut. The lower priced consoles won't hit Asian retailers until September 10th.
Late last month, Microsoft announced that the 120GB Xbox 360 Elite will sell for $299.99, while the popular 60GB Xbox 360 Pro will be cut to $249.99. What's more, production of the the Xbox 360 Pro has already stopped, despite being Microsoft's current top selling model.
Microsoft has denied that the price-cuts are in anyway related to the PS3 price-cut Sony announced earlier in August. "I think it's a bit coincidental," Microsoft's Aaron Greenberg told Kotaku, "but it's also somewhat logical with both (Sony and Microsoft) making price adjustments at this time of the year because we are turning the corner of the holiday season."