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With the new Sandy Bridge line of processors approaching, Intel Corp. on Thursday reduced the price of its Core i7-950 and Xeon W3550 CPUs by almost 50%.

The Core i7-950 CPU are currently available for Intel's OEM customers for $294, which is 48% cheaper than the July pricing. The i7-950 (8M L3 cache, 4 Cores, 8 Threads, 3.06 GHz 4.80 GT/sec Intel QPI 45nm)

The server Intel XEon W3550 (8M L2 cache, 4 Cores, 8 Threads, 3.06 GHz (130W) 4.80 GT/sec Intel QPI 45nm) is also now available in quantities of 1K for $294 - a price decreased by 24%.

The prices of the rest CPUs remain unchanged since July 2010. Intel's complete price list for CPUs is available here.