Rumor: Xbox 360 4GB Kinect bundle to get price cut soon

[Update: Microsoft is calling Walmart’s price drop an “independent decision” on a “temporary price cut.” It added, “We’ve made no announcements about price drops, and do not discuss our pricing plans in advance.” 

So either buy your 360 at Walmart for $50 cheaper than competing retailers or take the chance that others will soon follow.]

If you’re looking to pick up an Xbox 360, you might want to wait. A leaked upcoming circular for retailer Walmart shows that the price of the console may be cut by $50.

The advertisement shows a “rollback” for the Xbox 360 4GB with Kinect model, down to $249.99 from the current $299.99 price point. The price cut is listed as coming the week of August 28.

With a recent PlayStation 3 price cut, Microsoft may be reacting as you might expect. Of course, this may also be a way for it to position itself for the upcoming holidays. Could Microsoft knock it out of the part for a second year in a row with Kinect?

Rumor: Walmart dropping Xbox 360 4GB Kinect bundle to $249.99 on Aug. 28 [Joystiq]