Microsoft Corp. this week announced a new $50 price cut or gift card promotion for Xbox 360 hardware console and bundle SKUs.

Retailers Inc., Best Buy Co. Inc., and Target Corp. are offering a $50 discount or gift card with the purchase of select Xbox 360 console and bundle SKUs.

Microsoft in July said the Entertainment and Devices division generated $1.8 billion in the fourth quarter, an increase of $134 million from the prior quarter.

Operating income totaled $142 million in Q4.

The Xbox 360 shipped 1 million units in the quarter, down from 1.1 million the year prior.

Microsoft will release the Xbox One entertainment system Nov. 22.

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