Microsoft is cutting the European price for its Xbox 360 games console by 50 euros to 349.99 euros ($470), following a similar cut in the United States.
The company said in a statement on Monday that the lower price would be effective from August 24. It also plans to launch a new model, Xbox 360 Elite, that will ship with a 120 gigabyte hard disk and cost 449.99 euros.
The price of the entry-level model Xbox 360 Core will be cut by 20 euros to 279.99 euros, Microsoft said.