Microsoft has confirmed the European price cut of its Xbox 360 gaming console. The announcement comes just weeks after price cuts in Japan and the USA. Microsoft's Xbox 360 will be available at an estimated retail price of £129.99 (€179) for the entry-level Xbox 360 Arcade, £169.99 (€239.99) for the 60GB Xbox 360, and £229.99 (€299.99) for the 120GB Xbox 360 Elite.