Microsoft cuts Xbox 360 prices in Asia

(Credit: Crave Asia)

Microsoft is ratcheting up the battle against rivals Sony and Nintendo in the hotly contested Asian market, cutting the price of its Xbox 360 between 5 percent and nearly 20 percent in four areas throughout the region.

The price of the 20GB model was cut 17 percent in Taiwan, 10.7 percent in Hong Kong, and 5 percent in South Korea. The steepest reduction was made in Singapore, where that version of the gaming console dropped 19.5 percent and the company cut the price of two other models: The 120GB Elite was reduced 12.5 percent and the Arcade, which has no hard drive, was cut by 13 percent.

At the same time, Sony went in the opposite direction in Singapore and raised prices for its 40GB PlayStation 3 to $394. Nintendo, for its part, said late last week that it had no plans to cut prices on either the Wii console or its DS handheld in any regions.

"This price drop is part of Microsoft's ongoing strategy to bring Xbox's high-definition gaming and entertainment experience to an even wider user base," Microsoft said in a statement. The move follows price reductions up to 28 percent in some European markets last month.