360 price cut? Nope

Don’t hold your breath for an Xbox 360 price cut to respond to the PS3’s own.

When asked by VG247 (via) if such a cut was coming, Microsoft’s European interactive entertainment vice president Chris Lewis simply replied “no”. He then added: “As you can imagine, we plan for these scenarios all the time. For me to sit here and say that was a big surprise would be a lie. Respect for what they do, of course. I love the competition, actually: it keeps us on our toes, and consumers benefit ultimately.

“We think we offer great value now. We have better service provision than anybody. We attach more effectively than anybody. I think Xbox LIVE’s enviable. What we’ve achieved with Kinect has given us growth that I think others would aspire to at this point in the lifecycle.

“We’re happy with our position. While we’re not complacent about the competition, I wouldn’t trade places.”

Xbox has been enjoying a lead over PS3 sales throughout the majority of 2011 in the US at least – will this be turned around given the new prices?