Microsoft today announced an estimated retail price drop for its Xbox 360 family of consoles in the UK, as well as confirming the availability of the Xbox 360 Elite. On August 24, new estimated retail pricing will come into effect for Xbox 360 in the UK. The Xbox 360 Premium will be reduced by £30 ($60) to carry an estimated retail price of £249.99 ($497). The entry-level Xbox 360 Core console will also be reduced by £20 ($40) to carry an estimated retail price of £179.99 ($358). Xbox 360 Elite will carry an estimated retail price of £299.99 ($596) when it launches in the UK this Friday. Earlier this month, Microsoft slashed the price of its Xbox 360 console for the U.S. and Canadian region.