Bloomberg: Microsoft planning 360 price cut

Bloomberg is quoting Microsoft Game Studios President Shane Kim as saying that his company needs to lower the price of the Xbox 360 to attract more consumers. "We need to compete effectively for that customer and part of that is getting to the mass market price point for the console. We definitely are working on that area.," Kim told the financial news site.

The article gives no indication of when or how much the reduction will be, so this is pretty much just confirmation that the price cut we all know will happen eventually will ... happen eventually. Still, it's nice to know that some Microsoft higher-ups are paying attention to the issue.

This article was originally published on Joystiq.