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Okay so it’s day 1 of E3, and we’re going to be keeping you up to date with all the interesting announcements which are made from Sony, Microsoft and Nintendo.

Today, Microsoft officially announced that the 20GB Xbox 360 will be sold at $299 per unit. Here’s what Microsoft had to say:

We know consumers need more and more space to store the amazing digital content Xbox 360 offers, and we’re giving it to them at no extra charge. No one device offers the depth and breadth of entertainment that Xbox 360 can deliver, and now you’ll have three times the storage to manage all that great content.

As well as this Microsoft have said they will be releasing a 60GB Xbox 360 for the same price as the old 20GB - $349.

Hold up, if you live outside North America - don’t get too excited:

The 60GB Xbox 360 and the 20GB clearance sale are for the US only. We have not announced any changes in Xbox 360 offerings or pricing in Europe.

It’ll be interesting how Sony responds; tomorrow.

Microsoft Japan ahve announced in a press release saying that the Xbox 360 will be receiving a  price cut come November 1.

While the console is experiencing success in Europe and North America, it is no secret that it’s having a hard time keeping pace with Sony’s PlayStation 3 and Nintendo’s Wii in the Land of the Rising Sun.

Accordingly, Microsoft Japan will be slashing off a total of 4,995 Yen (US$ 43.86) to the Xbox 360 itself bringing the price down to just 34,800 Yen or roughly US$ 305.57. Likewise, the Core System will also be getting a 2,000 Yen (US$ 17.56) price cut. Consumers can purchase the Core System package on November 1 for just 27,800 Yen (US$ 244).