Microsoft today announced an Xbox 360 console with triple the storage space of the original console, but for the same price of $349. Available in retail stores in the U.S. and Canada starting in early August, the upgraded Xbox 360 will include a 60GB hard drive for storing music, movies, television shows, and game content. In addition, Microsoft today dropped the price of its 20GB Xbox 360 console in the U.S. and Canada to $299 while supplies last.

Microsoft’s Xbox 360 Arcade, which comes with a 256MB memory unit and five Xbox LIVE Arcade games, will continue to sell for $279, and the premium Xbox 360 Elite with a 120GB hard drive will also stay at the $449 price. The Xbox 360 60GB console includes a wireless controller, HDMI output, headset, free Xbox Live Silver account and a one-month Xbox Live Gold subscription.

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