Microsoft has this week reached a new milestone with its Xbox 360 console, confirming that it has shifted 6 million units across Europe since its launch in 2005.

“We’re very excited that more consumers in Europe are joining the ever-growing Xbox 360 community," enthused Chris Lewis, Vice President, Interactive Entertainment Business EMEA.

A reduction in the estimated retail price (ERP) of the console last week has brought the entry-level ERP for Xbox 360 down to €179/£129.99.

"We’re now the best-value next-gen console on the market with an entry-level ERP of €179/£129.99, and consumers have clearly responded to that offering. We’re supporting this momentum by putting launch-level investment into a European advertising campaign, launching this week, which shows how Xbox 360 is changing the way consumers experience entertainment. With the New Xbox Experience on the horizon, and great titles like Lips, Scene It?; You’re In The Movies, Fable 2, and more, there’s never been a better time to jump in to all that Xbox 360 offers.”

From last Friday, 19th September, Xbox 360, which includes a 60GB hard drive and one wireless controller, has an ERP of €239.99/£169.99. The Xbox 360 Elite, which comes with a massive 120GB hard drive enabling consumers to store huge quantities of content downloaded from Xbox live marketplace as well as their own music, has an ERP of €299.99/£229.99. The Xbox 360 Arcade console, has an ERP of €179/£129.99.

The price drop has set the stage for a record breaking holiday season, and the launch later this year of the New Xbox Experience, which will see a 3D dashboard makeover and a host of new features added, including a social avatar network.

Now the price cut has arrived, is now a good time to buy an Xbox 360? Check out Parm Mann's thoughts in his article: Microsoft slashing Xbox 360 prices, but is now a good time to buy?