Microsoft have reportedly cut the price of the console in Japan, word has it that pack will fall by a whopping 8,000 Yen to 19,800 Yen. That's just shy of a lowly 100 GBP, ladies and gentlemen.

The 30% cut will mean the 360 lowest-spec SKU is now comfortably lower than Nintendo's dominant console, which costs in the region of 25,000 in Japan.

5,000 to 8,000 Yen will also be cut from the Premium and Elite model systems, although we've no confirmation just yet.

More on this as we get it.

By Luke Guttridge