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I think some people here are making the mistake that if MS or Sony sells their console for X amount at retail then that's exactly how much money they will get. Things like Taxes and retailer fees will take a nice chunk out of that.

I think they will both be taking 'at least' a £100 loss in the UK.

As I recall the consoles are £350 and £430 respectably at point of sale. If we give the retailer a 'very' humble %10 per sales and then take away VAT at %20 then they only get about £250 and £310.