Seattle - Microsoft (NASD: MSFT) has announced plans to slash the price of its entry-level Xbox 360 video game console in the U.S. from $279 to $199, dropping it below the $250 price tag on the popular Nintendo Wii in advance of the holiday shopping season, BusinessWeek reports. The Xbox 360 Arcade, which does not come with a hard drive, will sell for $199, while the 60GB Xbox 360 Pro will come down in price from $349 to $299, and 120GB Xbox 360 Elite will be discounted to $399 from $449. read more ...