Reports of the Microsoft Xbox 720 have been all over the place of late, and now another report has popped up regarding the price of the console. The console is expected to hit the retail chains a year from now and, therefore, gamers are speculating what the price of the Xbox 720 maybe.

The Nintendo Wii U has already been considered as an expensive console for what it brings to the gamer. This was unexpected since the Wii itself debuted for a very cheap price that saw the Nintendo branded console skyrocketing in sales. Now, imagine if the Xbox 720 was actually more expensive, a lot more expensive for that matter.

According to the In Entertainment report, the "PlayStation 4 will probably have 4GB of memory, however this could also end up as 8GB, and this may depend on what the Xbox 720 has. If this is legitimate, Sony may consider adapting the same as what Microsoft is offering. The price mention around 400 to 500 Euros of your region's equivalent."

When 500 Euros is converted it comes to $600, which is quite a lot of money and much for Microsoft to even consider asking gamers to pay for the Xbox 720. The PlayStation 3 released for $599 and that high price didn't bode well for the Sony console in the early stages, and is the main reason the PlayStation 3 is trying to catch up with the Xbox 360 and Nintendo Wii.

The most likely scenario here is for the Xbox 720 to cost between $299 to $399 for the base model, the premium package with its frills and probably an extra game at launch, would hit the $599 mark. Microsoft would be looking to keep the momentum it has with the Xbox 360 going, and the only way to accomplish that is to entice gamers with a good price.