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Microsoft has confirmed earlier reports that the price of Xbox 360 has been slashed, including an Arcade version that's cheaper than the Wii.
The Xbox 360 Arcade will be slashed 80 Euros to 199.99 (£159.99), the Core console will be reduced to 299.99 Euros (£199.99) and the Elite console will come down to £259.99. Sadly, none of this applies to the US - but don't let that ruin your fun if you live on the right side of the pond.
The Wii currently retails (we say retail - eBay prices are a bit more unreasonable) for 250 Euros in Europe - 50 Euros more than the Xbox 360 Arcade pack.
The price cut will come into effect across Europe this Friday, March 14.
"Xbox 360 is now mass market in Europe," said Chris Lewis, VP Microsoft Interactive Entertainment Business Europe.
"We have reached and surpassed several key milestones that form part of our long term strategic plan to achieve critical mass in Europe; and our portfolio now offers the kind of mainstream entertainment experiences that secure wider appeal for Xbox 360. These factors allow us to execute on our strategy to widen the market for Xbox 360, as planned.
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"We continue to offer intense, immersive gaming experiences for gamers - but now we're priced in a way that will allow new consumers to find out for themselves why Xbox 360 is the ultimate in high-definition entertainment." said Lewis.
"History shows that £159.99 is the price point where a console's audience begins to expand, and with these new ERPs in place we're ready to bring more consumers into the Xbox 360 world."
It may well be that the price cut is in anticipation of the Grand Theft Auto IV launch next month, we say firmly wearing our big hat of speculation.
With the exclusive DLC and new price tag sales might lean even further towards the 360 version as opposed to PS3, or at least we're sure that's what Microsoft would be hoping anyway.
