As Microsoft still struggles to match the sales of Sony's PS4, the company announced Monday its Xbox One will be getting a $50 price cut in the U.S.
The cut, which goes into effect Nov. 2, drops the Xbox's price to $350, or $450 with the Kinect accessory. That's a pretty good deal.
But more importantly, it drops the price of the baseline Xbox One below the price of the PS4, which currently sells at $399.
While this news will likely excite those in the market for a next gen console, CNET writes, "investors will see [the price cut] as a sign the Xbox is struggling."
And they wouldn't be wrong. The PS4 has outsold the Xbox One for nine straight months, and recorded its 10 millionth sale back in August. Microsoft has been notably quiet about the Xbox One's sales.
But there are reasons to be optimistic about the Xbox One.
Just last month, the Xbox One launched in China, making it the first console to be legally sold in the country in more than 10 years. That's a pretty big untapped market where Microsoft's only competition will be mobile and PC gaming. Sony and Nintendo, both Japanese companies, have no plans in the country.
The price cut announced today will alsoapply to the consoles bundledwith hugely popular franchise games like"Assassin's Creed", "Call of Duty" and a new console exclusive, "Sunset Overdrive."
The price cut is only scheduled to last until Jan. 3, likely because Microsoft wants to capitalize on holiday shoppers, but TechCrunch speculates the price could remain in place if sales numbers are solid.
This video contains images from Getty Images and music from Chris Zabriskie / CC BY 4.0.
