A web-site has published what it claims to be the first photos of Microsoft Corp.’s Xbox 360 slim video game system. The device resembles the original Xbox 360, but is much smaller and slimmer.

According to the image published by GameKings.tv, the slim and more energy efficient Xbox 360 will inherit a number of design elements from the original console, will be substantially smaller than PlayStation 3 slim, but will still be bigger than Nintendo Wii. It is interesting to note that the web-site calls the Xbox 360 with the code-name “Napoleon”, a previously unknown name. It should also be noted that the product depictured resembles the HD DVD drive for the Xbox 360.

Previously it was reported that the slim version of Xbox 360 is based on the code-named Valhalla design. Earlier rumours revealed that Valhalla features a chip that combines central processing unit and graphics and memory controller hub, hence, is less expensive to manufacture.

Single-chip Xbox 360 is not only smaller, slimmer and more power efficient, but is also cheaper to make. Although Microsoft is relatively comfortable with the current price of the Xbox 360 Arcade at $199, it is highly likely that the company may want to cut the price on the console when it reveals the Natal motion sensor later this year so that the combination of the X360 with the controller would still be affordable.

Microsoft did not comment on the news-story.

Tags: Microsoft, Xbox, Valhalla, Natal, Napoleon