Microsoft has denied that there will be an Xbox 360 price cut in Europe. There was a rumor that the prices of the consoles would be dropped because of a picture of a Woolworths catalog showing the prices down.

Microsoft has rubbished rumours that an event will be held next week to announce a European price cut for the Xbox 360.

A picture of a supposed upcoming Woolworths catalog emerged last week, listing new 360 price points at £129, £169 and £229 for the Arcade, Core and Elite console respectively.

According to a report on site Gamer.tm these prices are real, and will be rolled out at a "European event" next week. Not so, says Microsoft UK.

"There is no European event next week," a company spokesperson told CVG, denying the report.

Twisted via computerandvideogames.com »