Microsoft’s Xbox will this week join Nintendo GameCube as the joint cheapest next-gen console, with the SRP reduced to £129, according to GamesIndustryBiz and MCV.

No one at Microsoft’s press centre was available to comment at the time of going to press, but certain retailers are reported as telling customers to expect a drop in the Xbox price as early as Friday.

Will Nintendo react with a new price as they look to improve the GameCube’s sales figures? And what about Sony? The PS2 still leads the next-gen console battle by some margin, but by the end of the week, looks like being the most expensive of the trio by £40. The next few days should be interesting, and we’ll let you know what happens.