Update: Nintendo of Europe has provided a statement regarding the price reduction.
The incredibly popular Nintendo Switch system has had a slight price reduction in Europe. The hybrid system is currently facing healthy competition from the newer Xbox Series S|X consoles and Sony’s PlayStation 5. Nintendo is releasing the higher-end Nintendo Switch (OLED Model) on 8th October to help continue to ignite sales and have decided to reduce the price of the original Switch console which has remained the same price since it launched back in March 2017. In the United Kingdom the Nintendo Switch is retailing for £260 compared to the £280 original asking price. The Switch Lite isn’t being reduced. The Nintendo Switch (OLED Model) will still retail for £310.
Source: UK & European retailers