Microsoft have today confirmed that beginning 22nd September, the price of an Xbox 360 Elite will drop by $100, bringing the recommended retail price to $499 in New Zealand.

In addition, customers buying an Xbox 360 Elite from the day of the price drop through to October 20th 2009 will receive a copy of Halo 3: ODST.

The Xbox 360 Arcade and Pro consoles will remain available at $349 and $449 respectively. This price drop been anticipated for some time now, as with the release of the PS3 slim and associated price reduction for Sony's platform it makes sense for Microsoft to keep a healthy price gap between the rival products. The real winners here are the consumers however, and it will be interesting to see just what sort of an effect this price juggling will have on console sales in the lead-up to the busy festive season.