After rumours that the Xbox 360 would be seeing a price cut in Europe, today is the day Amazon.co.uk let the numbers slip before the end of the announcement’s NDA. The NDA has now been lifted. Follow the jump for the new prices and PR.

Not only have Amazon.co.uk listed the new prices, they have cut them by a further £10. As far as price drop rumour rumblings, these came from the German Financial Times and two stores in the Netherlands. The price cut was rumoured to be as follows:

Xbox 360 Arcade – from €279.95 to €199.95
Xbox 360 Premium + 2 games – from €399 to €299.95
Xbox 360 Elite – from €449 to €399.95

Amazon.co.uk can now confirm the new UK prices. The Xbox 360 Arcade will drop from £199.99 to £159.99 (cheaper than the Nintendo Wii no less, a phenomenon we can recall from December 2007), the Xbox 360 Premium from £249.99 to £199.99, and the Xbox 360 Elite from £299.99 to £259.99.

The Xbox 360 Elite is still priced considerably higher than the Premium even though the value added does not appear to match £60. Still, at a further £10 off of each model at Amazon.co.uk, Microsoft have set themselves up for some jolly shopping by the time Grand Theft Auto IV comes out. This is especially clear when compared to the PS3′s current cost of £284.99 at the online retailer.

You’ll find that the price cut will be officially announced at approximately 2pm GMT today.

*Update 12.55pm GMT* Amazon.co.uk have returned their Xbox 360 prices to the original costing, presumably because they have jumped in front of the official press release. Thankfully we have a screenshot to prove the price drop.

*Update 2.20pm GMT* Just after 2pm, as I predicted, the Microsoft Press Release comes. The price cuts will be effective in Europe as of March 14th.

Microsoft today announced it is lowering the estimated retail price (ERP) for its Xbox 36 family of consoles in Europe. Now with an entry-level ERP of £159.99, Xbox 360 is a mass market entertainment proposition with something to offer for every interest and budget.

From Friday, 14th March, Xbox 360, which includes a 20GB hard drive and one wireless controller, will have an ERP of £199.99 – a saving of £50 on the current ERP. The Xbox 360 Elite, which comes with a massive 120GB hard drive enabling consumers to store huge quantities of content downloaded from Xbox LIVE Marketplace as well as their own music, will have an ERP of £259.99 – a saving of £40. The Xbox 360 Arcade console, perfect for those wishing to make their first foray into the gaming and entertainment world of Xbox, will have an ERP of £159.99 – a saving of £40.

Xbox 360 is the number one next-gen console in EMEA, owning 42% of the market in terms of life-to-date revenue. Xbox 360 continues to enjoy the highest software attach rate of any game console in Europe with more than 7.0 games sold per console (PS3: 3.8; Wii 3.5) after 26 months on the market.

The new ERPs are part of Microsoft’s ongoing strategy to open up the ultimate in high-definition gaming and entertainment to an even wider audience, with an offering for everyone.

“Xbox 360 is now mass market in Europe,” said Chris Lewis, Vice President, 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.

“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.”

Credit: Gamer.nl for magazine scan
Full Press Release can be found at MCV.UK
Xbox 360 Price Cut Q&A with Chris Lewis, Regional Vice President Xbox Europe: Wonderwallweb.com

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