Circuit City’s online division on Thurs. sold out of Microsoft Corp.’s newly discounted Xbox 360 Core system, which received a price cut of $20 this week.

The Core system carried an MSRP of $299.99 prior to the nationwide discount.

Microsoft this week price cut all Xbox 360 models from $20 to $50. The Xbox 360 Premium system now retails for $349, while the Elite SKU sells for $479.

The Core SKU is the least expensive among all Xbox 360 consoles. It lacks a hard drive included in more expensive models.

Microsoft’s price cut coincides with the release of key Xbox 360 titles this fall, including EA’s Madden NFL 08 and the action sequel Halo 3.

Microsoft has sold 5.6 million units to date in the U.S. It has shipped 11.6 million worldwide to date.

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