Microsoft Xbox Console Sales Double After Price Cut

Microsoft Corp. doubled sales of the Xbox 360 video game machine last weekend after cutting the price by as much as 29 percent to narrow Nintendo Co.'s lead.

Retailers reported a 100 percent increase in sales for all models compared with the previous weekend, Redmond, Washington- based Microsoft said in an e-mailed statement. Some models sold at six times the previous weekend's rate. The company didn't say how many were sold.

The Sept. 5 price cut gave Microsoft a model that costs less than Nintendo's market-leading Wii for the first time.

via Bloomberg