Microsoft cuts price of Xbox One for holidays

Corrections and clarifications: An earlier version of this story said the Call of Duty Xbox One bundle would be available at $349. That bundle will sell for $449.

Microsoft announced it will slash the price of the Xbox One video game console by $50 this holiday, as it continues to play catch up with market frontrunner PlayStation 4.

The price cut takes effect starting November 2, with the Xbox One selling for $349 in the U.S. However, it's a temporary reduction lasting through January 3, 2015.

The $349 price also applies to bundles that include the console with a specific game, including Assassin's Creed: Unity and Sunset Overdrive. Microsoft is also launching a bundle featuring Call of Duty: Advanced Warfare, but will stay at $449.

Last week, during its quarterly conference call, Microsoft announced total Xbox sales for the first quarter reached 2.4 million, although they did not break down how much is Xbox One vs. predecessor Xbox 360.

Microsoft is pushing hard to catch rival Sony and its PlayStation 4, which topped 10 million in global sales as of August. Along with the temporary price drop, Microsoft is launching a series of exclusive titles to persuade players sitting on the fence, including action title Sunset Overdrive -- available Tuesday -- and Halo: The Master Chief Collection, launching next month.

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