Microsoft Brings Back Xbox One Price Cut In U.S.

(RTTNews) - Microsoft Corp. (MSFT) announced a new promotion in which U.S. customers can buy an Xbox One at a special price of $349, starting January 16, from their preferred retailer.

It reduced the Xbox One's price by $50 during the 2014 holiday season to $349, but the company returned the console to its original price on 3rd January. Now, less than two weeks later, the company is bringing back a $50 price cut in the U.S starting tomorrow.

"The past year was a fantastic one for the video game industry - and Xbox One ended 2014 with an unprecedented holiday season, becoming the best-selling console in the U.S. in November and December. In fact, weekly average sales during these months outpaced Xbox 360 by 50 percent at the same point in its lifecycle," the company said.

"Building off a record-setting holiday, we are excited to announce a new promotion in which fans in the U.S. can buy an Xbox One at a special price of $349, starting tomorrow, January 16, from their preferred retailer," said Mike Nichols, Corporate Vice President of Marketing for Xbox.

Earlier in this month, Sony Corp.'s (SON.L, SNE) Sony Computer Entertainment Inc. announced that the PlayStation4 or PS4 computer entertainment system cumulatively sold through more than 18.5 million units worldwide as of January 4, 2015, and that the holiday season retail sales exceeded 4.1 million units globally.