Microsoft Corp. said that from this Wednesday, the price of Black Noble Edition Xbox360 Elite with 120G hard disk and HD video support will be reduced by $50, to $449.99. The most popular game console with 20G hard disk will also be reduced in price, to $349.99, as well as the wireless controller, whose retail price will be cut by $20, to $279.99. This is the first time that Xbox 360 game consoles have cut prices after a long wait of 20 months since they went on the market in November 2005.