UPDATED - Intel slashes selected processor prices by up to 40%

Note: It seems that AMD has also quietly cut some prices. AMD's official price list don't reflect these price custs.

Chip giant Intel, responding to price pressure from AMD, has slashed the price of selected processors by up to 40%.

Here's a rundown of the price update highlights:

• Core 2 Quad Q9650 (3.0GHz) Was: $530 | Now: $316 - 40% decrease
• Core 2 Quad Q9550 (2.83GHz) Was: $316 | Now: $266 - 16% decrease
• Core 2 Quad Q9400 (2.66GHz) Was: $266 | Now: $213 - 20% decrease
• Core 2 Quad Q8300 (2.5GHz) Was: $224 | Now: $183 - 18% decrease
• Core 2 Quad Q8200 (2.33GHz) Was: $193 | Now: $163 - 16% decrease
• Pentium Dual-Core E5200 (2.5GHz) Was: $84 | Now: $64 - 24% decrease
• Celeron 570 (2.26GHz) Was: $134 | Now: $70 - 48% decrease

Also added to the list are three power-efficient quad-core parts, identifiable by the "s" mark, all rated at 65W TDP:

• Core 2 Quad Q9550s - 2.83GHz - $369
• Core 2 Quad Q9400s - 2.66GHz - $320
• Core 2 Quad Q9400s - 2.33GHz - $245

Intel processor price list - effective January 18, 2009 (PDF).