Back in April, Microsoft launched a limited-edition version of the Xbox 360 for the US dubbed "Elite", packing in a 120GB hard drive, an HDMI port and a black finish for $479. While Microsoft has yet to announce plans for a European launch, they did announced plans to launch the Xbox 360 Elite in Japan later this year.

Microsoft is hoping the Elite will give the console a much needed boost in Japan, where it lags behind rival consoles. According to figures from Japanese market watcher and publisher Enterbrain, only 17,616 Xbox 360 units were sold in the four weeks to 24 June, compared to 270,974 Wii and 41,628 PS3 consoles.

Japanese gamers will reportedly pay ¥47,800 - which converts to around $390 - for Microsoft's Xbox 360 Elite which will be available starting October 11.