Microsoft Drops Xbox One Price Back to $349, Calls It a Promotion

In what seems like an attempt to mimic the actions of Microsoft in India, what with frequent discounts of the Xbox One on Amazon India, US buyers can now buy the Xbox One for $349 (roughly Rs. 21,600) again.

The move comes after the company hiked the price back to $399 (around Rs. 24,700) on January 3 after a two-month long promotion from November that brought the price down to $349 and saw some great sales over the holiday period, beating Sony's PlayStation 4 for the first time since launch.

However, barely two weeks into the price increase, the Redmond-based company on Thursday announced that the price will be back to $349. Though again calling it a promotion, Microsoft appears to in fact be cutting the price permanently, fresh off the success over the holiday period.

"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. "We are thankful for all the excitement for Xbox One this holiday and proud to offer more fans the amazing games lineup, Xbox Live gaming community, and continual innovation that Xbox One fans have come to enjoy."

What does this mean for local buyers? It still makes the grey market an attractive option if warranty is not a concern what with prices holding steady within the range of Rs. 25,000 to 28,000. While they were slated to go up a bit thanks to the US price increase, since that lasted all of two weeks, it seems unlikely.