Speaking to TheStreet.com, Microsoft corporate vice president J Allard has revealed the likely launch price of the Xbox 360. When he was asked if the console would be released at the same $299 price tag of the original Xbox he answered with: "It's going to be in the neighbourhood [of $300]."

This is by no means a guarantee that the 360 will be released at that price, and European pricing is bound to be more expensive than a simple currency conversion, but at least it shouldn't be the £399 price tag that had been rumoured.

We'll be sure to bring you news on the official price for the Xbox 360 as soon as we hear an announcement, which, according to J Allard is "about two months away."

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