Microsoft is doing its best to keep up with the competition in the gaming industry. To compete with the latest edition from Sony and Nintendo, Microsoft has lowered the price of Xbox 360 for this fall. The Xbox 720 will not be on shelves till next year’s Christmas, and Xbox 360 is not getting any new gears either. But, Sony has already launched a slimmer version of PlayStation 3, and Nintendo has been preparing to launch its super-fast Wii U soon. How Xbox will handle the pressure? With a discount on price.