Microsoft will officially cut the price of the Xbox 360 Elite to £199.99 tomorrow, 28th August, and has confirmed the 60GB Pro model will be phased out.
The Xbox 360 Arcade will move to a higher £159.99 price than at present and will not be officially bundled with software as it has been recently.
Over in the US, the Elite will sell for $299.99 and the Arcade for $199.99.
The Elite will no longer ship with a bundled HDMI cable.
Last week Sony cut the price of the PlayStation 3 to £249.99 / 299.99 and announced the introduction of a new slim unit, due out imminently, which features a 120GB hard disk - the same capacity offered by the Xbox 360 Elite.