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I don't expect price cuts anywhere else soon, mate. You are overlooking one important factor. The strength of the Euro (and pound). With the US dollar in a slump and the Euro rocketing MS knows that those Euros will translate into happy dollars.

 

With a weak dollar a price cut now in the US won't help MS.

 

The European market is where the real money is. 

 

That's why Sony will be please with the results there and MS are desperate to improve business in this region at practically any cost.