http://www.cex.co.uk/news/feature.php?id=8653

Reminiscent of SONY’s misadventures with their 60GB model, Microsoft have finally admitted that the American price cut that was shown by the Wall Street Journal, was indeed true. In USA and Canada the Xbox 360 pro was cut by $50 from $349 to $299.

Once again however, a wedge is driven deep into the heart of European gamers, with the announcement of a brand new 60GB Xbox 360 set to take over the initial price of $349 of the Pro Model in the US region only. Microsoft announced the new model declaring that with the increasing need of space to ‘’store the amazing digital content Xbox 360 offers’’, a 60GB hard drive would be an adequate substitute for the Elite system and it’s superior 120GB drive. The 20GB model will now be discontinued and price will last as long as the supply holds.

So with no plans as of yet for a new 60GB model or indeed even a price cut in Europe, we as gamers are left to wonder how long it will be before Microsoft tends to our needs. Purchasing a 120GB hard drive by itself is incredibly costly, most going for over £100.00 making it much more plausible to import the drives from USA. The Xbox 360 Elite retails for £250.00 which makes purchasing the unit much more economical than taking home the hard drive by itself.

As painful as it is to be neglected so, eventually we will receive some sort of news that will benefit Europe, so perhaps for the time being it is wise to recommend not purchasing a new 360 unit if you were thinking about doing so in the very near future. I know I really wanted to nab a new elite system next week, but now I think it is best to wait a month or so to ensure we as consumers, make the most out of our money.

You American's are lucky we Europeans always come second best!

Sony and MSFT need to threaten the Europeans with a price hike. That'll teach'em.

 Teach em what? Not to buy consoles anymore.

Why don't I believe this?

hahahahha 1 first post after OP.

That made me laugh hard.

Europe already had a price cut... even though the console is still over priced.

If MS don't care about Europe sales, they are going about this the right way.

Then while you have a chance, buy a PS3 :)

They just cut the price in europe by 70€ (110$ aprox). Moar like USA slagging behind on the price cut goodnes =D

Now, no video marketplace... there's something to bitch about. Two years and a half and still nada.

MS has given up European region already. X360 sales in Europe should drop off. MS is focusing on the NA region the only region it has a chance against Sony's PS3.

People keep saying it is a three way console war including X360, PS3 and Wii. It is in MS eyes X360 V's PS3 showdown.

BTW: I hope Sony's PS3 kicks ass over MS X360. PS3 will soon overtake the X360 in worldwide console sales. This is great news for Sony in Europe. PS3 gap over X360 in Europe should widen. European consumers being left out in the cold again. Shame MS shame.

Speaking as a European:

"Overpriced" is relative... Does the current weakness of the US dollar entitle everyone else in the world to an equivalent price cut? I don't think so, especially considering that manufacturing is not necessarily paid for in US dollars.

Another two important things are:

1- People doing currency conversions usually forget to account for taxes, which are included in European prices but not in USA's prices.

2- In many EU countries, all electronics have a warranty of 2 years by law, which isn't the case in USA.

To be sure, European gamers do pay more for hardware and software, but the difference is not as big as most naive comparisons make it seem.