By Tom Ivan
An unverified scan of a retailer ad has heightened speculation that Microsoft is set to cut the price of the Xbox 360 in the US ahead of next month’s E3 Media and Business Summit.

ImageA High-Def Digest forums member has uploaded a scan of what is claimed to be an upcoming Kmart weekly ad, showing an Xbox 360 price cut purportedly set to hit retail on June 6.
The ad appears to indicate that the 20GB hard drive-equipped SKU, formerly known as the Pro 360, will see its MSRP slashed by $50 to $299.
The scan doesn’t suggest any upcoming price cuts for the Arcade or Elite 360 models. However, seeing as the lower end Arcade unit currently retails for $279, it would seem logical that it too would be in line for a drop in price if Xbox cost reduction is indeed part of Microsoft’s near-term strategy.
"Microsoft does not comment on rumors or speculation," was the response offered to Next-Gen on Friday when we contacted the platform holder for comment.