Xbox 360 A 'Great Price' and 'Not Dropping For Many, Many Years,' says U.K. Exec

VideoGamer.com today published an excerpt from an interview with Stephen McGill, Microsoft's head of gaming and entertainment in the U.K. When asked about any price cuts for the Xbox 360, he indicated that the price will not be reduced beyond the recent cuts for the foreseeable future.

"We're [at] a great price now. I'm not dropping the price for many many years in the future I would suspect," commented McGill. "It's great value. And I think the value not only comes from the price of the console but the content. With NXE launching and obviously that's free for everyone, and the portfolio. There isn't a better range of games and entertainment, basically fun, on any other platform, and we're incredibly affordable."

"I'm not going to speculate where it might go (the price of the Xbox 360) in five or ten years time, whatever. But we've obviously just reduced the price and that's because we can pass the costs reductions we have straight on to consumers," he continued. "That's the right thing to do, obviously from a business point of view it helps it sell even more. I think a lot of people have been waiting for it to become even more affordable and they're now seeing that benefit and buying it in their droves and we can now hopefully continue it through Christmas and beyond."

Sony recently confirmed that there will be no price cut for the PS3 for the Holiday 2008 season.