It's the question every potential buyer wants to know: Will Microsoft respond to Sony's $50 PS3 price cut with an Xbox 360 price cut of its own? After all, it didn't take long for Microsoft to match the lower price of Sony's PS3 Slim, first unveiled at Gamescom two years ago. But over a week in and there's still no sign of a price cut coming from Redmond. At $200 for the 4GB Xbox 360 and $300 for the abnormally large 250GB model, Sony's $250 160GB PS3 not only bests the 'box on hardware (hello Blu-ray!) but on price as well.

So what's Microsoft going to do about it? Nothing, apparently. When asked if he was "feeling any pressure to move [price] down a little" in response to the PS3 price cut, European Xbox bigwig Chris Lewis told VG247 simply, "No." He elaborated, "We think we offer great value now," pointing to features like Xbox Live and Kinect, but insisted, "We're happy with our position." If we were in Lewis' position, tasked with beating back Sony's European sales lead, "happy" probably wouldn't be our first response to Sony's aggressive pricing.

This article was originally published on Joystiq.

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