The Microsoft XBox 360 faces tough competion this weekend as it’s competitors release their newest generation of Video Game Systems: Sony’s Playstation 3 hits stores this Friday (albeit in limited quantities) and Nintendo Wii hits shelves this coming Sunday.

The Playstation 3 will retail for $499 for the core model and $599 for the premium model.

Nintendo releases it’s newest Video Game System to compete with Microsoft XBox 360 and Sony’s Playstation 3 this Sunday: The Nintendo Wii.

The Wii will sell for $250.

The XBox 360 hit shelves Tuesday, November 22, 2005, officially kicking off the next generation of Video Game Systems (getting a full year start on it’s competitors – Sony’s Playstation 3 and Nintendo Wii).

The system is now available for $299 for the “Core System” or $399 for the “XBox 360″ System.