Washington (ECN) - According to the latest reports, Microsoft is expected to drop the price of all of their Xbox 360 skus starting in August.  This will drop the Xbox 360 price point down to that of the Nintendo Wii.

One of the biggest selling points thus far for the Nintendo Wii has been the fact that it is the cheapest and most mass market console at $250.

Things are beginning to shift though as the Xbox 360 Arcade sku, as of August, will also be priced at $250.

The Xbox 360 Pro sku will be reduced in price down to $299.

There is no word as of yet as to whether or not the Sony PS3 will also be receiving a price cut.

Nintendo has no plans to sell the Wii as they still can't keep any in stock at its current price point.