Microsoft has slashed the price of the Xbox 360 Arcade and Premium across the European market according to a report in the German edition of the Financial Times.
The Arcade sku will now sell for 199 Euros, while the Premium model will retail for 299 Euros, down from 339.
The Financial Times’ report did not mention a price cut regarding the Elite Xbox 360 – the top of the line version of the Xbox 360 which currently retails for around 449 Euros.
Microsoft has yet to confirm the price cut officially.
Last week, rumors from the retail community suggested a price cut was due, with some reports indicating the move would happen on March 14, with all models reduced by 50 European bones.
This new price puts the Xbox Arcade about 50 Euros below the current top seller – Wii. No word on these price cuts taking effect in the US, but from what we’ve heard, American gamers can expect to see a price cut some time before the launch of GTA IV.