Microsoft cuts price of Xbox in Europe to 249 euros
Reuters, 08.28.02, 7:45 AM ET

AMSTERDAM, Aug 28 (Reuters) - Microsoft said on Wednesday it would cut the suggested retail price of its video games console Xbox to 249 euros from 299 euros. (that's about £160)

The U.S. software maker, which last year launched its console that competes with PlayStation 2 from Japan's Sony Corp <6758.T> and GameCube from Japan's Nintendo <7974.OS>, said it would cut the price in Britain to 159.99 pounds from 199 pounds.

"The new prices will be effective on Friday August 30th," a Microsoft spokesman in London told Reuters.

Microsoft announcement comes just one hour after Sony said it would cut the price of PlayStation 2 to between 249 and 259 euros in Europe.

Copyright 2002, Reuters News Service

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This means that old Billyboy has slashed the price of the xbox in half since its European release earlier this year (£299 - £159). I don’t want to big a big girlie fanboy about this, but it does seem that the xbox has fallen short of predicted sales and hasn’t managed to live up to the hype (so far). It will be very interesting to see the statistics for all console sales after the Christmas period to see how the market is shaping up.

Whichever way you look at it, its nothing but good news for European gamers – hoorah!!!!!!!