As expected we finally got our Xbox 360 price cut today, the core system will soon be available for £179.99, a reduction of £20. The more complete Premium system will be £249.99, £30 cheaper and the black elite system with HDMI and a 120gb Hard disk will be £299.99 when it's released on Friday.

"We’re pleased to be able to offer Xbox 360 at a new, lower estimated retail price," said Stephen McGill, Head of Gaming & Entertainment, Xbox UK. "We pioneered the successful concept of multiple products for multiple categories of consumer. First-timers will love the Xbox 360 Core system, which offers an affordable entry into high-definition gaming. The Xbox 360 Elite, with its large hard drive and wireless controller, will appeal to casual and experienced gamers and families. The Xbox 360 opens up whole new avenues of entertainment for those who seek the ultimate gaming and entertainment experience.

"Whether it’s our lead in console sales, record-setting games and accessory attach rates or our leading online service, evidence is everywhere that Xbox is thriving," continued McGill. "When you combine that momentum with these great-value offerings with our unbeatable Christmas game line-up, it’s clear that Xbox 360 is uniquely placed to take the UK by storm this Christmas."

As in other territories it does now bring the Core system in line in price with the Wii but they are both still way too expensive in the UK given exchange rates. Microsoft, Nintendo and especially Sony should be ashamed of themselves.