The standard Premium Xbox 360 will be £50 cheaper at £199, while the black Elite version will be priced at £259.99.
"We have reached and surpassed several key milestones that form part of our long-term strategic plan to achieve critical mass in Europe," said Chris Lewis, vice president of Microsoft's Interactive Entertainment Business in Europe.
Several retailers such as Amazon have already lowered the prices of the consoles ahead of the official date.
"History shows that £159.99 is the price point where a console's audience begins to expand," said Lewis.
And, yep, it'll run Android rather than RiscOS
US engineering giant's cost-cutting outsourcing plan is on the rocks, according to insiders
HP Envy X2 laptop only affordable if you've got loadsamoney
Counterfeit code-signing certificates enabling hackers to hide malware being sold by cyber criminals
Certificates can be used as part of layered obfuscation to evade detection by anti-virus software