Digital Trends writes: The video game console wars are booming right now thanks to price cuts across the board on the three major game consoles. The introduction of the much cheaper PS3 slim was a catalyst for the price cuts in the industry.
With the PS3 Slim selling for $299, Microsoft quickly dropped the price of its Xbox 360 Elite to the same $299 price point. To make its console more attractive Nintendo also announced a price cut. The price cut brought the Wii to a price of $199. At that price, the console still fell behind the new PS3 as gamers finally started to buy the console in significant numbers.