Xbox 360, Wii and PS3 are all tipped to be taking a drop in price before the year's end.

According to UK trade publication MCV, there will be price cuts for Xbox 360 and PS3 announced by the end of the year, and possibly as early as next month's E3 games show in the US. The site says its insider is “a senior global publishing source”.

The publication also says that a Wii cut is on the cards in the face of increased opposition expected from Microsoft's Natal and Sony's PlayStation Move, when they both launch later this year.

Nintendo and Sony both laughed off the rumours saying they don't comment on such speculation. But they're hardly likely to confirm a price cut for November are they? Everybody would wait until the price drops before paying full whack.