Pretty much everything is more expensive in Europe in some European countries gas is more then twice as much what it is in the US.

How much was the original PS3 at launch in the UK? I swear I remember it being around 400 pounds...

VAT man! We in Europe are choked by stupid taxes.

Higher Retailer Margins, but then the 360 costs about the same in NA and Europe, and so does the PS3, does it not?

Also what do you mean by better consumer protection? Does the government issue a warrenty, or is the One warrenty extended in EU?

Things like:

EU laws provide a minimum TWO year warranty for faulty or defective goods.

UK laws provide the ability to return any product bought over the internet for ANY reason within 30 days

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Yes, MS and Sony eat more margin on EU retail sales. This is because stores are used to higher margins in general (we don't do the Walmart thing) and because our minimum wages are a lot higher.

That's SO COOL!

So if a console breaks within 2 years, MS is forced to replace the product? No wonder they need to sell it at a higher price to offset the cost of forced repairs.

What's minimum wage where you live (where do you live?).

It's about $11 USD an hour here in Canada, but in some provinces like Alberta, it's $15 USD.

In the EU the consumer can claim until two years after the purchase problems with the product if the deficit with the product was existing from the beginning. That is not the same as a full guarantee, but it covers production failures even if exposed only later.

i believe 425 pounds but the pound was stronger back then, that's why it looks much worse for uk this time compared to the us price

i believe 1 pound was 2 dollar and now only 1.50 or something like that. 425x2 is 850. 429x1.5 is ~650.

so, xbox one is around 200 dollar cheaper in uk as ps3 was but you still have to pay more pound lol.

£425, a price which was seen as rather high... You would have thought that they would at least make it cheaper than that

This price does feel far too high, it will sell at bit and things can sell at this sort of price (see the iPad), but I wouldn't count on it

I think another factor is that Microsoft expects xbox live fees to make up the initial loss on the console. If less people in Europe as a % take up gold membership when they buy a console the initial price has to be higher to compensate.