Microsoft cuts console prices in Asia

Microsoft has announced price cuts for its Xbox 360 console in four Asian markets.

The retail price for the standard 20GB model was reduced to S$ 499 (USD 366) in Singapore, a drop of 20 per cent. In Taiwan, the price was cut 17 per cent to NT$ 10,360 (USD 340).

Microsoft also dropped the price in China to 2,499 (USD 321) and South Korea to WON 369,000 (USD 369) - a 11 per cent and 5.1 per cent reduction, respectively.

The The cuts follow recent price reductions in Europe that caused Xbox 360 sales to double.

According to Bloomberg, Microsoft's VP of global marketing, Jeff Bell, said that Microsoft has had trouble breaking into the Asian market because of the dominance of Kyoto, Japan-based Nintendo and different game preferences in Asia.