Well...Microsoft sure were quick to reply to these rumours. It's a shame that they won't drop the price anytime soon, as it could bring up the sales, though they are doing well at the current price.

We’ve seen the coverage from Bloomberg reporting a price drop by this holiday, and since I haven’t heard anything about a price drop, I thought I’d go right to the source. I asked David Hufford to clarify, and he sent me an email, and told me I could share it.

David writes (my emphasis and links):

“Some are getting really spun up about the Bloomberg story and inaccurately reading tea leaves that don’t exist. I spoke to Bloomberg nearly two months ago and we were talking about NPD data that had just been released, and chatting generally about price points of consoles in the market. The comment, which is accurately reported, unfortunately has now been taken way out of context and being reported as if I am signaling a price drop. I was not, I am not.

With Xbox 360s selling well at their current price point, Elites selling out at $479, and an insanely great portfolio of games in the market, there’s no reason to announce any kind of price drop anytime soon.

Storm via gamerscoreblog.com »