Going by this alleged Kmart ad, the Pro version of the Xbox 360 is due for a $50 price cut in the next few days (by July 6), dropping the price to $299. The ad, discovered by a member of the High-Def Digest forums, advertises it as a “new low price.”

Naturally, it’s Microsoft’s policy not to comment on rumors, so we’re left swinging in the wind.

But if the ad is genuine, we’re likely to see price cuts on other Xbox 360s SKUs, most likely the low-end Arcade SKU.

All this, just before E3. You know, the new and boring E3.

via Next Generation