Microsoft confirms Xbox price drop

Following plenty of speculation on the subject, Microsoft has today announced that--effective March 30--its Xbox console will be available for $149.99 in the US and $199.99 in Canada, which represents a price drop of $30 in each territory. The equivalent of $45 has also been knocked off the price of the Xbox in Mexico, where the console will now be available for 1,999 pesos.

"We have always been committed to providing gamers with the best entertainment experience available," said Mitch Koch, corporate vice president of Microsoft worldwide retail sales. "At this lower mass-market price point, we're opening up this great system to an even broader audience of people who can experience Xbox for the first time."

In addition to its console price drop, Microsoft has also announced lower prices for a number of Xbox titles, as well as the launch of a Platinum Family Hits range of budget-priced games suitable for the whole family. Project Gotham Racing 2, Crimson Skies: High Road to Revenge, and Counter-Strike will be selling for $29.99, effective tomorrow, while Xbox Music Mixer, Voodoo Vince, and Grabbed by the Ghoulies will be available for just $19.99.

The Platinum Family Hits range announced today, which is seen as an expansion of the existing Platinum Hits program, will comprise E-rated titles that are specifically targeted at a family-oriented audience. Several titles are expected to be added to the $19.99 range each year, and the initial lineup includes such favorites as Finding Nemo and Harry Potter and the Chamber of Secrets.