Nike to sell high-tech $300 shoe

August 21, 2012 6:38:34 PM PDT
Nike is about to do something it's never done before -- sell a shoe for more than $300.

The LeBron X Nike Plus basketball sneaker is a high-tech shoe that will reportedly have sensors that measure how high the wearer jumps. Reports say it will sell for $315, a price Nike won't confirm or deny.

Despite the enormous price tag, Nike expects huge demand and is working to prevent the chaos and violence that has marred other shoe releases. This time around, Nike won't allow retailers to stage midnight sales events.

The exact release date hasn't been announced.