As was rumoured would happen soon, Microsoft has announced a new lower ERP for its Xbox 360 family of consoles in Europe.

There is now with an entry-level ERP of £129.99, with Microsoft describing the Xbox 360 as "the true home of mass market entertainment with something to offer for every interest and budget".

From Friday, 19 September, Xbox 360, which includes a 60GB hard drive and one wireless controller, will have an ERP of £169.99.

The Xbox 360 Elite, which comes with a 120GB hard drive, enabling consumers to store content downloaded from Xbox LIVE Marketplace as well as their own music, will have an ERP of £229.99.

The Xbox 360 Arcade console, aimed at those making their first foray into the gaming and entertainment world of Xbox, will have an ERP of £129.99.

The company says the new ERPs are part of Microsoft’s "ongoing strategy to open up the ultimate in high-definition gaming and entertainment to an even wider audience, with something for everyone".