Microsoft's Xbox 360 gaming console will get a line of budget-priced software, the company announced today, following the precedent established by Sony's Playstation, as well as the previous Xbox console.

On Wednesday, the Redmond Wash.-based company revealed that the Xbox 360 will be getting a line of software, called Platinum Hits, which will begging shipping October 15.

The Platinum Hits program allows existing gamers and new gamers alike to have access to great games at a great price, said Mitch Koch, corporate vice president of Worldwide Retail Sales for the Interactive Entertainment Business.

Xbox 360 will have a ten million unit head start by the end of 2006, and there will be plenty of new console owners eager to jump in to the best-selling Xbox 360 games, he added.

The first wave of Platinum Hits games includes Perfect Dark Zero, Project Gotham Racing 3 , Kameo: Elements of Power and Need for Speed Most Wanted. The games will sell for #29.99.

Microsoft had a similar program with the previous generation Xbox, which accounted for the sales of more than 16 million software titles - 16 percent of all Xbox software sold.