Following Sony, Microsoft puts Xbox on recession special

Want an Xbox 360 for Christmas? Good news: Microsoft (MSFT) has cut the price on its high-end Xbox model by $100 just in time for the fall holiday shopping season, the company announced Thursday morning. The move comes just days after Sony (SNE) also reduced the price of its PlayStation 3 by $100 in hopes of enticing holiday shoppers.

Starting Friday, Microsoft will cut the price of its Xbox 360 Elite console to $299.99; the price of its Xbox 360 Pro console will be reduced by $50 to $249.99.