Xbox 360, PS3 price cuts this fall?

Popular news site Ars Technica has learned from its infamous Mole that both Microsoft and Sony have console price cuts scheduled for sometime this fall.

The Microsoft Xbox 360 Elite is expected to replace the Pro models, with the Pro line expected to vanish from store shelves either next month or in August.

The Sony PlayStation 3 game console will receive a price cut as the 80GB model is slowly phased out by the 160GB PS3 units.  The exact price cuts of the PS3 haven’t been specified, but could be as much as $100. 

Possible price cuts this fall set up both companies for one more competitive holiday shopping season, which officially kicks off after Thanksgiving. 

Microsoft is expected to again offer several game bundles in which an Xbox 360 unit will be offered with video games, custom faceplates, and other possible goodies.  It’s possible Microsoft will release Halo 3 and Fable 2 game bundles, among others, but we’ll have to wait and see.

There also are still rumors of the PS3 Slim and PSP Go, but it’s unlikely Sony would be able to keep the PS3 Slim silent this long.  Even though Nintendo hasn’t issued a price cut for its popular Wii game console, it’s possible the Japanese company may finally need to issue a price cut.  If so, that means all three game consoles may see price cuts this fall, which surely is a win-win situation for gamers.

In case you’re not familiar with The Mole, he or she is an industry informant that, although can’t be named, has been correct on a number of occasions.  If The Mole says price cuts are coming, and listed the price cuts, then I’m inclined to believe we’ll see these moves later.

Are you interested in purchasing a cheaper Xbox 360 or PS3 this fall?