Price cut boosts sales of Microsoft console

Sales of the Xbox 360 leaped 40 per cent last weekend following Microsoft's decision to cut prices across Europe, according to sales monitoring firm Chart-Track.

The figures will make good reading for Microsoft as arch rival Sony readies next week's £299 PlayStation 3 hardware bundle in support of the launch of Gran Turismo 5: Prologue Edition.

Microsoft cut the pricing on all Xbox 360 models in Europe last week. The Arcade model now costs £159, the Premium model is £199 and the Elite model is £259.

Industry experts expect no imminent price cut for the PlayStation 3.

However, Microsoft will be disappointed that sales of games titles failed to register a similar spike, which industry experts put down to high profile launches in the previous week.

"That is mainly because the week prior there were big new Xbox 360 releases like Army of Two, Bully and MX vs ATV," Chart-Track director Dorian Bloch told GamesIndustry.biz.

"Now it's a question of Easter. The real litmus test will be over the next three to four weeks. It is too early to read too much into it at this stage."

With the industry preoccupied with the ongoing battle between Xbox 360 and PlayStation 3, Bloch revealed that Sony's PlayStation 2 continues to enjoy sales mileage.

"The greatest surge was on PS2," he said. "There was a lot of price promotion going on, with certain titles being well and truly flogged. It is now the calm before the high point of Easter."