If you still don’t have an Xbox 360, then the announcement of a price drop would surely make you think twice about continuing to hold off on your purchase.

No less than the Wall Street Journal reported that Microsoft is set to lower the price of the 20GB Pro variant to $299 by July 13. This price drop is seen as a reaction to figures that show the Microsoft console lagging behind in sales compared to the two other consoles in the market. Whereas the 360 outsold the Playstation 3 in 2007, it has lost ground to Sony’s console this year.

The WSJ has not given any other reports about the other variants in the Xbox 360 line but it could be possible that the price drops will be across the board.

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