Last week, we told you about the rumored European price cut, which was expected to have the Xbox 360 Arcade’s current price of £199.99 to something closer to £170. Well, today Amazon unofficially confirmed this price cut after it dropped the price of all Xbox 360 editions. The Xbox 360 Arcade is now available for as low as £149.99, while the Premium is on sale for £189.99 and the Elite for £249.99.

After rumor and speculation that only followed after more rumors and MORE speculation, it's finally confirmed that Microsoft has made a pretty drastic price cut for European Xbox 360 shoppers. In fact, it even cuts some of the competition. The Xbox 360 arcade version will now be selling for a price of £199.99, which makes it cheaper than the Nintendo Wii by £50. Microsoft seems vigilant on making an impact in the living room, and after what many would consider a failed console, the first Xbox, many skeptics and analysts are now saying that Microsoft is leading a much stronger front than it had years prior.