New Xbox 360 prices from Friday

If you were planning on buying an Xbox 350 in the run up to Christmas, hang on in there for a few more days, the prices are on their way down in Europe.

In a move obviously targetted at the holiday season, Microsoft yesterday announced a new series of recommended prices that will be valid from Friday, September 19. 

The changes are as follows:

• Xbox 360 20 GB ('Arcade) falls from 199 to 179 euros, a 20 euro cut representing a 10% saving -- 130 GBP is the new price for the UK

• Xbox 360 60 GB ('Premium') falls from 269 to 239 euos, a 30 euro cut representing an 11% saving -- 170 GBP for the UK

• Xbox 360 120 GB ('Elite') falls from 369 to 299 euros, a 70 cut representing nearly a fifth off -- 230 GBP for the UK

Microsoft has claimed that they can cut prices thanks to the overwhelming success of their console, with over 20 millions sales worldwide, and pressure is now likely to grow on Sony to cut the price of their PlayStation 3, despite the manufacturer's earlier claims that prices would not budge this year.