According to a report by HKEPC, Intel will be reducing the prices on the Core i7 950 by 40%. The i7 chip will cost $294 instead of $500 starting from 29Th August. The processor is clocked at 3.06Ghz and is compatible with LGA1366motherboards.

Intel also plans on releasing a new processor for the budgetsegment, the Core i3 560. Clocked at 3.33Ghz, this dual-core processor will retail for $138. Recently Intel has also released the Core i5 760. The quad-core is clocked at 2.8Ghz and has a price tag of $200.

You can view the full report below:

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