Microsoft will be offering way more value for your dollar with their new Xbox 360 SKU that boasts triple the storage space of the original $349 console. It is not available just yet, but will be hitting retail stores in both the U.S. as well as Canada early next month onwards. Other than the 300% increase in hard drive space, gamers on a tighter budget will be pleased to know that the 20GB Xbox 360 in both mentioned countries will experience a $50 price drop to a mere $299 as long as supplies last. More on the development after the jump.

Albert Penello, Xbox director of product management at Microsoft, “We know consumers need more and more space to store the amazing digital content Xbox 360 offers, and we’re giving it to them at no extra charge. No one device offers the depth and breadth of entertainment that Xbox 360 can deliver, and now you’ll have three times the storage to manage all that great content.”

Of course, so that nobody gets confused with this new package, here’s a short explanation on all three SKUs available. First of all we have the Xbox 360 Arcade that comes with a 256MB memory unit and five Xbox LIVE Arcade games, offering unprecedented value for the entire family at $279. As for the premium Xbox 360 Elite, that model will retail for $449 and come with a 120GB hard drive. Last but not least is the aforementioned Xbox 360 60GB edition that retails for $299. Makes me wonder who is going to clear out the remaining 20GB inventory for the same price.

Each purchase of the new Xbox 360 60GB will come with the following :-

• 60GB hard drive
• Upscaling DVD player
• Xbox 360 wireless controller
• Xbox 360 headset
• Xbox LIVE Silver membership
• One-month subscription to Xbox LIVE Gold

Time to get your gaming on this summer!

Press Release