It has been one of the happiest and the happening news of the evening right from the Microsoft that the it has decided to make the Xbox 360 as one of the cheapest console on the block, by slashing out the European prices today.

The entry-level Xbox 360 Arcade was spotted this morning on Amazon UK for £149.99. Its now been down by £40 from its usual price of nearly £190. Also listed were the Xbox 360 Premium and Xbox 360 Elite at the new price points of £190 and £250, down from £250 and £290, respectively.

Amazon’s prices have reverted to normal, since this morning though, which points to the group cheekily jumping the gun before the official Microsoft announcement, which is expected to happen before the day is out.