Microsoft Corp. will bring a diminution in the price of its Xbox 360 to $299.

The reduction in price of Xbox 360 will make it $100 cheaper than Sony Corp's PlayStation 3.

However, a spokesperson from Microsoft maintained that the company has not announced about lowering the price so far.

Microsoft alone, stands as a competitor of Nintendo’s Wii as well as PlayStation 3. There are no expections in the price downfall of Nintendo and Sony.

Meanwhile, many retailers reported of short supply of Nintendo's $249 Wii. On the other hand, Sony plans a lucrative video game business this year. Resultantly, there are no expections in the price downfall of Nintendo and Sony.