Microsoft Australia has confirmed - following some recent gun-jumping retail advertisements - that the Xbox 360 has had an official, and rather hefty price-cut. Starting today, the prices of all three SKUs have been dropped, with the Arcade down $50 to AUD$349, the Pro down a whopping $180 to AUD$499 and the Elite down $80 to AUD$649. At those prices, the Arcade is now selling for AUD$50 cheaper than the Wii, which retails for AUD$400. While the news is good for Australian consumers, Xbox Australia are quick to point out that - like the European cuts a few months back - they don't necessarily indicate an imminent price-drop for the US market, with Microsoft's Jeremy Hinton stressing that Microsoft has given their individual regions the autonomy to institute price drops on their own.

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