It's been rumored for a while now, but a $50 price cut for the Xbox 360's Pro SKU is indeed in the works, according to The Wall Street Journal. They report that "people familiar with the matter" have confirmed to them that the price cut is coming and may take effect as early as Sunday, July 13.

It is currently unknown whether or not the Arcade and Elite SKUs will also be receiving a price cut, but we'll let you know if those details surface. They may come as soon as Microsoft's E3 press conference, which will likely address the Pro SKU's price cut.

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