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They'll probably wait and see how 360 and PS3 sales develop. Both had sales boosted by big games, price cuts etc for the last few months, and nobody really knows how big the difference will be and in what direction after January.

Microsoft is in a strong position to cut prices, while Sony can't really do anything except wait and hope people want their third party games really bad, so the 360 winning 08 in Europe isn't entirely out of the question.