By Rey Gambe ( | First Posted: Oct 28, 2014 06:09 AM EDT

Xbox One (Photo : Getty Images Entertainment)

Microsoft will reduce the price of Xbox One by $50 starting November 2 all the way to January 3, 2015 as part of its Holiday offering to gamers.

That means that from its current price of $399, the next generation gaming console will be priced $349 during the two-month promo period, reports MSN News.

The price drop is inclusive to Xbox One across the range, so the $50 savings apply to the base unit without a game or those with game bundles, notes Time.

Thus, during the promo period, the console bundled with the highly-anticipated game "Assassin's Creed Unity" will be effectively priced $349 without the Kinect sensor and $449 if it comes with the device along with the "Dance Central Spotlight" game, cites Time.

The limited edition "Call of Duty: Advanced Warfare" package with a custom console, a controller, and a 1 TB hard drive, will be priced $449, details MSN News.

The "Sunset Overdrive" Xbox One bundle that comes with a white finish and stock keeping units (SKUs), will be worth $349 during the promo period, added Time.

While Microsoft has conveniently timed the slash in the prices of Xbox One base unit and bundles to make it appear that it is part of a Holiday offering, the Time report believes otherwise.

"The Xbox One's temporary price drop is both a sign of how much Microsoft is trying to change the sales narrative around its flagship console," observes Time.

The report said that move is actually a reaction of Microsoft to the fact that Xbox One is getting a clean beating from PlayStation 4 on a global scale.

"It's an indication that the company is willing to do more than its competition to make that happen," Time pointed out.

MSN News sort of confirmed the opinion of Time on the issue when it mentioned that the price drop of the console may actually go beyond the January 3, 2015 promo period especially if it would help Sony's bottomline for its console business.

Microsoft has to do something to shore up Xbox One sales or it would go the same way as Nintendo and Wii U did, whose prices are way off than its perceived values, notes Time. 

The $50 drop on Xbox One prices on November 2 is the second slash that Microsoft has implemented on its gaming console this year. On May 13, the company reduced the price of Xbox One base unit from $500 to $400, by making the Kinect motion sensor optional to gamers, cites Engadget in a May 13 article.

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