Bling, bling - now available at a price of €249.99/£159.99

In an unexpected move from Microsoft, the company announced yet another price cut - in Europe. Now gamers overseas will have even more of a reason to get excited now that the system has the estimated street price of ¬249.99/£159.99, effective immediately.

"The video games industry is more robust than ever this year, and new consoles and games are expected to dominate Christmas wish lists," said Sandy Duncan, Vice President, Xbox Europe. "Xbox is extremely well-positioned to be at the top of those lists because it's the best value. The intense power and gaming experiences consumers get with Xbox is simply unsurpassed."

Duncan pointed out that only with Xbox this holiday can consumers get a choice of over 200 game titles (with over 300 currently in development) representing the most advanced movie quality graphics, sound effects and music ever experienced on a video game console, plus a built-in hard disc for the most intense gaming experiences and a built-in broadband adapter for instant online gaming with Xbox Live, a new online gaming service launching soon in Europe. "Best value is not just about price," said Duncan. "It's price, plus the most advanced hardware features, plus a killer games portfolio all in one package."