Microsoft has revealed that the Xbox One managed to defeat the PlayStation 4 in December. The victory is only for the U.S. territory, but still a significant one since it is the second time the console has come out victorious in its own market for 2014.

Last year, the PlayStation 4 was the bestselling console in the market for 10 straight months. No one thought Microsoft would ever come out on top, not even after the company released a second SKU for $399 that did not consist of the Kinect 2.0 camera.

"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, Jan. 16, from their preferred retailer," said Xbox corporate vice president of marketing Mike Nichols. "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."

However, after kicking off a temporary price cut in November, the Xbox One went on to become the bestselling console in the U.S. and UK, selling nearly 2 million units.

Despite the rise in sales, the software giant still went ahead and increased the price of the console back to $399. However, 13 days after going back to the original price, Microsoft again decided to bring it back down to $349.

At the moment, executives are claiming that the price cut is temporary, and there is no word as to when gamers should expect it to return to $399, if it ever does. We are suspecting the real reason Microsoft slipped the price back to $349 is that after the 13 days of bringing the price back up, sales hadn't picked up the way the company had hoped.

We have a feeling this $349 price tag will become permanent should the Xbox One come out on top in the U.S. for January. This would definitely help Microsoft stay on the heels of Sony, and more than likely place immense pressure on the Japanese giant as it is in no position right now to cut the price of the PlayStation 4.

Should the price stay at $349 for the rest of the year, Microsoft could place the Xbox One on equal footing with the PlayStation 4 -- but only time will tell.

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