That's a full £20 off the £130 that the console was selling for back in the summer. It seems like the strategy's paying off too with discount code site myvouchercodes.co.uk claiming that it's seen nearly a doubling of sales of the Xbox 360 through the site in the last 2 days.
The number of searches for the console have also risen - 400% since the start of the year, apparently. However, it's likely that a good chunk of that increase is just because it's the festive season, rather than anything to do with the sale.
If you've not picked up an Xbox 360 yet, is a further £20 price cut enough to swing you? Or do you balk at the cost of then populating a games collection for the console, which can cost far more than the original console did? Tell us in the comments.