Rumors of a price cut in the Xbox 360 have been buzzing in the gaming world. These rumors did eventually happen to be true. Yet what was not understood by most people is the launching of a new model timed with the price cut.

Microsoft has rolled out the Xbox 360 60 GB. It comes along with a tie up with Netflix Inc for streaming movies and TV Shows. It is going to be some experience. The strategic tie up was announced at the EC. , The XBox Elite and Xbox 360 Arcade continue to cost $ 280 and $ 450.

A new look and feel was announced for Xbox 360’s dashboard along with the price cut. Borrowing a page from Nintendo, Microsoft has decided to introduce customizable avatars for the Xbox 360. From the LIVE Marketplace you can find a huge selection of clothes and accessories. There are going to be LIVE parties too. Up to eight users will be able to share content and exchange data.

Microsoft believes that the feature of streaming movies over LIVE in partnership with Netflix will make the Xbox 360 an entertainment centre in your home. The disc based CDs can be thrown in the trash can very soon.

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