Last week, Bloomberg.com had an article which dropped a bunch of quote bombs from top Xbox executives. One of the quotes was David Hufford, Xbox's director of product management, saying, "We are well aware that the sweet spot of the market is really 199 bucks.'' At the time, we said knowing and doing it are completely different -- we were right. Apparently, Hufford's quote was misinterpreted by some to mean a price drop was coming and he put a stop to that.

Hufford wrote to Gamerscoreblog that people are getting all worked up over an interview, which although published now, was done two months ago while discussing NPD data with Bloomberg. He says the Xbox 360 is selling well (even the Elite) and with their "great portfolio" of games they have no plans to announce any kind of price drop "anytime soon." We don't know if "soon" means this quarter or this year, "soon" is such a relative term. Looks like those waiting for an Xbox 360 price drop are just going to have to keep putting change in the coin jar. Once again, it all depends on the definition of "soon."

This article was originally published on Joystiq.

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