The price of the Xbox games console has been cut for the third time in Europe in just over a year.

The 20% cut means an Xbox will cost about £129.99 (199 euros).

The cut means that the console is the same price as the Nintendo GameCube and cheaper than Sony's Playstation 2.

Sony and Nintendo have yet to say whether they will respond with price cuts of their own.

Competition for European customers among console makers was fierce before the cut and looks set to intensify now.

Microsoft launched the Xbox in Europe in March 2002 and put it on sale for £299 (479 euros).

Nintendo's GameCube went on sale in May 2002 at £129 (199 euros) but the price has steadily come down as retailers attempt to shift the backlog of consoles on their shelves.

Full Article:
BBC