The recent price drop in Xbox 360 gaming consoles will attract all the game frenzies to the nearest gaming store, assures the makers at Microsoft.

The proclamation claims a drop in price by close to 50 bucks, as stated by an internal memo from major retailer Target.

Which means now the Xbox 360 Arcade will be available from $199.99 to $149.99 at Target. The Elite version will see a dip from $299.99 to $249.99.

Also the Modern Warfare 2 Limited Edition will drop from $399.99 to $349.99. In a similar manner the Final Fantasy XIII and Splinter Cell Xbox 360 bundles will drop the same way.

The recent dip in prices is made in view to make way for the latest model of 360 which will come with a starting range of $299.

It is black 360 which is better than Elite, integrates Wi-Fi and a 250GB hard drive. The new device is soon to hit stores after the recent declaration at the Microsoft expo.