Microsoft officially announced today a new Pro model that for the same price will include a 60GB hard drive. The company also dropped the price of its 20GB Xbox 360 console to just $299 while supplies last. This could indicate that once sold out, the only SKUs will be the $279 HDD-less Arcade system, the $349 60GB Premium system, and the $449 120GB Elite.

Available in retail stores in the U.S. and Canada starting in early August, the upgraded Xbox 360 will include a 60GB hard drive for storing the growing wealth of digital entertainment available for the console, including music, movies, television shows, and game content. In addition, Microsoft today dropped the price of its 20GB Xbox 360 console in the U.S. and Canada to just $299 (U.S.) (ERP) while supplies last, a savings of $50.

Xbox 360 is just one of three Xbox 360 gaming and entertainment systems Microsoft offers. Microsoft's Xbox 360 Arcade, which comes with a 256MB memory unit and five Xbox LIVE Arcade games, is a value for the whole family for $279 (U.S.) (ERP), and the premium Xbox 360 Elite console is available with a 120GB hard drive for $449 (U.S.) (ERP).