Microsoft Corp said on Tuesday it is cutting prices on the Xbox 360 in four Asian regions by as much as 20 percent in an effort to expand the audience for the video game console. The reductions will take effect this week in South Korea, Taiwan, Hong Kong and Singapore, Microsoft said. "This price drop is part of Microsoft's ongoing strategy to bring Xbox's high-definition gaming and entertainment experience to an even wider user base," Microsoft said in a statement.

The price of the main Xbox 360 Premium model with a 20-gigabyte hard drive was cut nearly 20 percent in Singapore, 17 percent in Taiwan, nearly 11 percent in Hong Kong, and 5 percent in South Korea.

The Xbox 360 competes against Sony Corp's PlayStation 3 and Nintendo Co Ltd's Wii consoles.

Last month, Microsoft slashed prices on the Xbox 360 in some European countries by up to 28 percent, in an effort to spur sales in a key battleground for the video-game industry.