It’s finally official after all the rumors, speculations and retailers having a difficult time keeping the news under wraps. Microsoft has now officially announced a price drop for its Xbox 360 game console, which is the first since the consoles launch.

The announcement brings a $50 price cut off the Premium, 20GB system leaving it at $349.99. Microsoft is also taking the black, 120GB Elite system down $30 bringing its price to $449.99 and finally Xbox 360 Core system will be priced at $279.99 after a $20 …

Sony made it official today with an announcement today of the larger capacity 80GB Playstation 3 game console for sale now both online and in stores in the US and Canada. The new system comes bundled with the off-road racing game MotorStorm for $599 USD or $659 CND.

The larger capacity allows users to download and store more games and media through the game console as the number of games and multimedia content from Sony continues to grow. The 60GB PS3 is still available along side this new high-end version retailing for $499 with …

According to HollywoodReporter some unknown sources say that the Xbox 360 from Microsoft will see a $50 price reduction next month to try to boost up sales of the game console. The price cut is expected on August 8th to be exact, but it was not clear whether the price cut would be on the Core, Pro, Elite or all three.

Many expected some type of price reduction announcement at E3 this year, but were met with disappointment as no such announcement was made, and Microsoft is neither confirming …

The NPD data for June game sales are in and it looks as if Nintendo continues to wallop the competition with both its latest generation Wii game console and the handheld DS. In June Nintendo sold 381,800 Wii game consoles which was nearly twice as much as its nearest competitor Microsoft, selling 198,400 Xbox 360′s. Sony’s Playstation 3 came in 3rd for the full-size latest-generation consoles with 98,500 units. This is the sixth month in a row that Nintendo has had the lead in current-generation game console sales with this months margin …

Reports are in that Sony has sold just over 1 million Playstation 3 game consoles in Japan since its launch last November. According to a report from Reuters , publisher Enterbrain said that Sony had sold 1.01 million PS3 consoles as of the 15th of July.

This rate is still a little behind the Nintendo Wii which reached in the 1 million mark in one fourth the time and has sold 2.9 million consoles in Japan as of the 8th of July. The …

There’s been a lot of talk and speculation lately in the current generation game console market, with Nintendo taking a significant lead in console sales over Microsoft and Sony. Many analysts have predicted that both the PS3 and the Xbox 360 would see some price cuts to make themselves more competitive with the Wii, and Sony recently knocked $100 off of their 60GB PS3 game console.

Most thought this was indeed to make the PS3 more competitive price-wise …

It’s only been a few days since Sony announced a $100 price cut to their PS3 game console, bringing the 60GB model down to $500. But, even with the price reduction this is still more than twice as much as the Nintendo Wii and $20 more than the priciest version of the Microsoft Xbox.

Due to competitive pricing and the idea that more PS2 owners will soon be upgrading to the PS3, Capcom Chief Financial Officer Kazuhiko Abe feels that it is likely that the Playstation 3 will …

Sony President Ryoji Chubachi said in an interview with Reuters on Friday that the company has no current plans for a price cut of the Playstation 3 game console. The PS3 has been trailing the Nintendo Wii and the Microsoft Xbox 360 in game console sales for months, and in May the PS3′s sold were less than a 3rd of the number of Nintendo Wii’s.

Due to lower sales, a price that’s more than double that of the Wii and a limited number of popular gaming titles, many analysts …

Microsoft announced today the planned launch of the upgraded Xbox 360 Elite in Japan on October 11th. This launch will be an attempt to drive more attention to the game console whose sales have been lagging in Japan behind rivals Sony and Nintendo. Microsoft unveiled the 360 Elite version at the end of March with upgrades including a larger hard drive, a wireless controller, HDMI and an Xbox Live Gold membership.

EA Sports realizes that although the motion-sensitive controllers for the Wii may well be the key part of the game consoles success, running both of them in some games can be complicated for some and turn them off of certain games, not to mention dangerous.

Due to this, the versions of Madden NFL 08, NBA Live 08 and FIFA 08 for the Wii will have both and Advanced and a Family mode of play. The Family mode makes use of only the Wii remote …

Not only is Nintendo’s sales of the Wii game console staying ahead of the competition, but they are continuing to rise and pull further away from rival Sony’s PlayStation 3.

Last month we reported that the Wii was outselling the PS3 in Japan at a ratio of 5 to 1 in May with 251,794 units. Reuters is now reporting that these numbers have risen and Nintendo sold 270,974 Wii game console units in the first 24 days of June in Japan. This, compared to the …

Nintendo today announced a new game-creation service called WiiWare which will open up game development for anyone to create games to play on the Nintendo Wii game console.

The WiiWare service will enable developers from around the world to create new and unique games that take advantage of the popular, motion-sensitive Wii controllers. If you thought there were some strange and interesting games available that utilize Remote and Nunchuk now, just wait.

While the popularity of the Wii game console along with the massive fun people have with it may alone …

Facing an ever-worsening situation, the company behind the controversial video game “Manhunt 2” has decided to postpone the release of their title. Take Two Interactive Software had made plans to release the game on July 10 for the Nintendo Wii and Sony’s PlayStation 2 and PSP.

After the British Board of Film Classification had banned sales of the game from U.K. shops, America’s Entertainment Software Ratings Board issued an Adults Only (AO) rating for the game, severely limiting Take Two’s customer base (WalMart won’t carry any AO rated games.) Government representatives in Australia …

The Sony Playstation 3 has its processing power and the Xbox has its Microsoft but as far as sales go there is really no denying that Nintendo is the closest to the “magic formula” for selling game consoles with the Wii. May marks the fifth month in a row that Nintendo outsold rivals in console sales with 338,300 units sold compared to 81,600 Playstation 3′s from Sony and 154,900 Xbox 360 consoles sold from Microsoft.

Nintendo also has notable sales in with its handheld DS by selling …

Microsoft isn’t the only one looking to make some changes in order to keep up with rival Nintendo in the game console wars. Sony said last week it plans to cut some jobs in its gaming unit in the U.S. as well as Europe and Japan as it works to keep up sales of its Playstation 2 and Playstation 3 with the Nintendo Wii. The Wii has been the leader in the latest generation of game console sales for the previous four months …