UPDATE: PS3 dropping to £125 in GAME's Christmas sale

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MCV can reveal that Sony's PS3 will drop tantalisingly close to the magic 100 mark in GAME's Christmas sale, which starts on Boxing Day.

The retailer will be offering the European-only 12GB version of the console including a copy of The Amazing Spider-Man on Blu-ray for just 125 – that over 70 cheaper than the RRP.

Other offers include Assassin's Creed III or FIFA 13 for 35 and both Forza Horizon and Halo 4 at just 25.

With such amazing value now available, it's the perfect time to escape the leftover turkey and board games with the relatives, to hunker down with some awesome games,” Game Retail category director Charlotte Knight stated.

With great deals on the latest releases this is our biggest ever sale and the perfect antidote to the January blues for the UK's gaming community.”

UPDATE: Tesco will be undercutting GAME by selling the 12GB PS3 for 120. The price applies on Boxing Day only.

UPDATE 2: Now Amazon is at it. The etailer is currently offering the 12GB PS3 for 119.99.