European Xbox 360 price cut in '08: "I can't imagine why they would penalize you folks," says Pachter

Speaking to VG247 today, Wedbush Morgan's Michael Pachter has said a further European Xbox 360 price cut this year isn't the stupidest idea in the world.

"I can't imagine why they would penalize you folks," he said, when asked if he thought the console's price would come down in Europe given the announced cut in Japan this week and the near-certain drop in the States next week.

Microsoft is to cut as much as 30 percent from Xbox 360's retail cost in Japan, and it would appear Americans are to imminently enjoy a drop of as much as $80.

There's been no indication from retail as yet on the subject of a European drop, but one senior UK source did just tell us that it is "highly likely" we'll see another cut this year.

Don't say we didn't warn you, anyway.