Beginning today, May 3, the Xbox 360 received a price reduction in Spain. The Arcade model was cut by €30 to €169 ($223), while the Elite experienced a €20 drop to €199 ($262). No other European countries seem to be experiencing a similar price drop.

Following up with Microsoft in the States, the company's official comment to Joystiq was that "the limited promotional price of Xbox 360 Arcade in Spain does not reflect an official price drop." The company's statement continues, "We work closely with retailers to determine the best approach for our products on a region-by-region basis."

[Thanks, Antonio R.; Via VG247, ElOtroLado]