When Microsoft cut the prices on its Xbox 360 hardware earlier this month, many wondered if the company would also drop the price on its 120GB hard drive for consumers who want more storage space. Shortly after the price reduction went into effect, a number of retailers began listing the hard drive at the new price of $149 (previously $179).

Now Microsoft has confirmed that this is an official price drop as well. “We reduced the price of the Xbox 360 120 GB Hard Drive to $149 in conjunction with the recent Xbox 360 console price drop.” a spokesperson told GameDaily BIZ.

It’s amazing to think that for just $50 more, you could pick up an entire console — the $199 Arcade model.

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