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Microsoft Corp. cut prices of its Xbox 360 game console in four Asian markets to help fend off market-share declines against Nintendo Co. and Sony Corp.

The Redmond, Washington-based company cut estimated retail prices in Hong Kong, South Korea, Singapore and Taiwan, Brenda Hsieh, a Microsoft spokeswoman in Taipei, said today.

The price of a basic version will drop by 17 percent to NT$10,360 ($340) in Taiwan and by about 11 percent in Hong Kong effective today, Hsieh said. Prices will fall 5.1 percent to 369,000 won ($369) in Korea and by 20 percent to S$499 ($366) in Singapore, according to separate e-mailed statements.

(Continuation Source: http://www.bloomberg.com/…=aPVnmYFcu28g&refer=japan)