Highly placed sources in the UK games industry have suggested that Microsoft's next generation console, the Xbox 360, will be launched in Europe on 25 November 2005 at prices as high as £299 according to Games industry website Gamesindustry.biz.

The site goes on to state that it expects an official announcement of the European date will be made by Microsoft to its trade partners on the 15th of this month, two days before a public announcement at Game Convention in Leipzig.

While they were confident of the dates being mooted, the price of the system remains less certain - with our sources indicating that Microsoft itself may not have made up its mind on the matter as yet.

According to the site:

"The original plan was UKP 249, but now that Sony is talking about the PS3 being expensive, UKP 299 is looking more likely," according to one source - although it was admitted that this pricing is a "best guess" based on information from Microsoft, not an official figure by any means.

We will keep you posted.