Microsoft reduces 360 price down under

Following last week's North American price drop, Microsoft has announced a reduction in the price of its Xbox 360 in Australia.

The 20GB pro unit will now retail for AUD 579.95, down from AUD 649. The core unit will retail for AUD 399.95, down from AUD 429.

With the price drops, effective immediately, the core Xbox 360 is priced the same as the Nintendo Wii in Australia. Sony's PS3 remains AUD 999.99.

"I think you'll see, on a games point of view, we're well ahead [of the PS3]. And now once again we're offering all of these experiences at a really affordable price," said Xbox regional director David McLean.

MacLean said the price of the Xbox 360 had been the same for 17 months, claiming this was the longest any console had been on the Australian market without a price drop.