According to German gaming site Xbox-Archiv, the much rumored black Xbox 360 Premium is in fact coming, despite constant efforts to diffuse its existence and dash gamer hopes.

The site claims a little bird told them the new system is coming this May, at a lower $299 price replacing the useless Core model in the process. Also included are a 120 GB hard drive and HDMI outputs. Spring is the time for price drops, and our golden gut tells us Microsoft will more than likely run with something come this May...

UPDATE: A little clarification - the rumor suggests the current premium will take the place of the Core and its $299 price with the souped up Premium Pro costing $400 or more.

[Thanks to all who sent this in; 360 Fanboy]

This article was originally published on Joystiq.

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