To gain more customers, Microsoft made some more price cuts for the Xbox 360. The latest cut is made for the units in Europe. The latest price reduction is almost 28 percent. The cut is made on the three Xbox 360 models. The basic version that comes with a 20 GB hard drive drops its price from $500 to $400. The Xbox Elite with its 120 GB drive drops from $600 to $520. And aside from the prices of the units, Microsoft also includes the Arcade pack in the price cut. The basic pack is now $307 while the Premium is $568.

This latest price cut is the second one that Microsoft made within a 12-month period. The previous one was made for Europe in August last year. Does this look like Microsoft’s sales will once again overtake those of Nintendo’s Wii and Sony’s PS3? Looks like it’s going to be back to the console wars!