Microsoft Corp. this week released the Xbox 360 250GB Racing Bundle to U.S. retail.

The bundle includes the Xbox 360 250GB hardware, Forza Motorsport 4, and the Wireless Racing Wheel at $299.99.

Microsoft in May said it will release Forza Horizon, the next entry in the racing franchise, this fall.

Microsoft in Apr. recorded a 16 percent decline in the division that includes the Xbox business in third quarter results.

The Entertainment and Devices division posted revenue of $1.62 billion, a 16 percent decline from the year prior.

Microsoft cited a soft gaming market for the decline. The Xbox 360 held as the top console for the 15th consecutive month, and the company this quarter introduced new entertainment options to Xbox Live service to more than 40 million members.

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