Microsoft will officially launch the Xbox 360 in Brazil next month for the low, low price of $1,400.

Let that sink in for a minute.

The package includes a premium system, as well as three games.

In the U.S., you'd pay about $580 for the same bundle, assuming each game costs $60.

And Daniel Cervantes, director of Microsoft's Latin America games and entertainment division, is quoted as saying (presumably with a straight face) that the price is "very competitive."

Now, the story does point out this is the first time one of the hardware makers has sold their consoles directly in Brazil -- most game systems there are purchased by third-party vendors and then imported for re-sale. But the imported 360s generally cost a little over half of what Microsoft will charge.

I lived in Brazil for a couple years, and yes, there is a tiny niche of super-rich Brazilians who live like robber barons who will be able to afford the official 360s. But $1,400 is just absurd.