Dispensing with the rumors of an Xbox 360 price cut in America, we now have word that Australia has taken that big leap forward, introducing a price cut for the Xbox 360 that essentially makes it cheaper than the Wii.

Beginning July 2, the Xbox 360 Arcade Unit will receive an AU$ 50 price cut, bringing the price down to AU$ 349 (US$ 333) and making it AU$ 50 cheaper than the retail price of the Wii locally. The Pro Bundle will now sell for AU$ 499 (US$ 476) and the Elite will sell for AU$ 649 (US$ 619).

Jeremy Hinton, Xbox group product marketing manager for Australia and New Zealand, noted that the price drop was planned for some time. Furthermore, Hinton said that with regard to price drops, "individual countries now manage what they feel would be best for their respective regions," rather than carrying an overall global strategy.

While that last statement makes us think that a 360 price cut in America isn't imminent, we're still hopeful that the folks at Microsoft in America will gift gamers with the promise of a cheaper console.