rumored Xbox 360 price drop due to happen on or around August 8th. According to a source at Best Buy, the $50 cut doesn’t include the Core model because it’s apparently being phased out altogether.

Word out of Redmond is that nothing’s set in stone regarding the Xbox 360 Core’s fate. So Microsoft’s either waiting to make an announcement, Best Buy has decided to drop the Core regardless of whether or not it’s going away, or the whole thing is a clever ruse worthy of the smarmiest of mystery dinner parties.

Rumor: Best Buy done with Xbox 360 core model [Joystiq]