120GB Xbox Elite RIP?

With the dust just having settled on all the pre-Christmas hardware price cutting rumours are mounting that Microsoft is preparing to replace its existing 120GB Xbox 360 Elite model with a 250GB SKU.

Kotaku reports that Xbox 360 120GB hard drives are currently incredibly hard to find on the High Street, whiles GameStop is currently offering a $50 rebate on all Elite’s purchased – effectively cutting the price of the console.

Elite bundles also seem to be vanishing from the shelves of US retailers.

However, the situation appears to be different in the UK. All of the major online retailers appear to have the 120GB SKU in stock.

Until now Microsoft’s 250GB HDDs have only been available as part of a number of hardware bundles.