Great news for gamers looking to get into Xbox 360: Microsoft has slashed prices on the entire range of its next gen console packages in what is the first official price drop since the machine’s launch back in December 2005.

Those looking to buy a standalone console can now buy the Xbox 360 Core pack for just £179.99, making it just as cheap as the Nintendo Wii. That’ll get you the basic package with a wired controller, basic AV lead and no hard disc or memory card. The more advanced Premium pack, with its bundled 20GB hard disk, HD video cable and wireless controllers has been discounted to a very reasonable £249.99. At the top end of the scale, the Xbox 360 Elite with its HDMI output, 120GB hard disc and menacing black casing weighs in at £299.99.

Game shops have been offering their own unofficial discounts on the 360 for some time in the form of their own bundle packages featuring a range of games, so despite the price drop, our advice is still to shop around for the best deal.