Microsoft has announced a price cut for its Xbox 360 gaming console. The company's previous-generation console is now available at a starting price of Rs 12,990, for the 4GB storage variant, after getting a Rs 3,000 price cut. The 250GB Xbox 360 with Kinect will cost Rs 29,990 (old price - Rs 31,990), while the 4GB Xbox 360 with Kinect will be available at Rs 21,990 (old price - Rs 26,990).

In addition to the price cut, Microsoft has also introduced the 500GB Xbox 360 model in India at Rs 19,990. It is also running a special promotion under which the 500GB Xbox 360 bundle would include two games - Call of Duty: Black Ops II and Call of Duty: Ghosts and a one-month Xbox Live Gold membership. The bundle also includes Xbox 360 wireless controller and Xbox 360 headset.

Sony, on the other hand sells its PlayStation 3 12GB console at Rs 16,600 and its 500GB version bundle (with three free games and controller) at Rs 20,990.

Microsoft's current-generation console Xbox One sells at Rs 39,990 (without Kinect) and Rs 45,990 (with Kinect).