It was inevitable yet bound to happen! AMD has now announced dropping prices on its high end HD 7000 series graphics cards with effective from 16th July this coming Monday.

The current and new prices are quoted as follows:

Old Pricing:

AMD Radeon HD7970 - $449AMD Radeon HD7950 - $399AMD Radeon HD7870 - $349

New Pricing:

AMD Radeon HD7970 GHz Editon - $499AMD Radeon HD7970 - $429AMD Radeon HD7950 - $349AMD Radeon HD7870 - $299

Besides this, all the cards ranging across the HD7000 line have received as what AMD labels as a “significant performance bump” with its new AMD Catalyst 12.7 driver update. AMD sure seems to feel the heat now with the new price cuts aimed to bring back consumers from getting Nvidia’s 600 series Kepler cards. The GPU price wars are on.

Now its apparently less time left until Nvidia launches its deadly weapon to even escalate the market situation with it's currently being worked on GTX 660TI and GTX 660 graphics cards by the start of August or so this year.