Luke mentioned it earlier today, but Microsoft has just released the official word on the Xbox 360 price cuts, which will indeed go into effect this Friday, March 14th, and yes, that includes Britain as well. Starting Friday the standard 20GB unit will run â‚¬269.99/Â£199.99, with the Elite at â‚¬369.99/Â£259.99, and the Arcade hitting the bargain basement price of â‚¬199.99/Â£159.99. Why the price cuts now? According to Chris Lewis, Microsoft's VP of Interactive Entertainment in Europe, it all comes down to history.
"History shows that â‚¬199/Â£159 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."
Translating into normal speak that reads, "Please buy our console, it is cheaper than the Wii". Hit the jump for the full press release!