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Logan Frederick

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Microsoft has cut the price for all variations of the Xbox 360 in Europe.

Microsoft announced that it is lowering the estimated retail price (ERP) for its Xbox 360 consoles in Europe. The standard Xbox 360 with the 20 gigabyte hard drive is now £199.99 ($400), a savings of £50. Microsoft's two additional SKU's, the Elite and Arcade, have been cut by £40 to £259.99 ($523) and £159.99 ($320), respectively.

The Xbox 360 is the number one next-gen console in Europe, the Middle East and Africa, earning 42% of the market in terms of life-to-date revenue.

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