In a move that is sure to raise many eyebrows, Microsoft has just cut the price on Xbox One consoles and bundles by $50 across the board, bringing the cost of 500 GB units to $299.99 ahead of its rumored E3 announcement.

There's no word on whether this promotion is limited or permanent this time around. In the past, Microsoft has cut the price of the Xbox One console for various events, such as the holiday season or the Spring Sale. However, unlike before, when Microsoft would have a definite cutoff date, this sale is merely described at the bottom of the page as "for a limited time."

Length of the sale aside, there is something quite suspicious about the timing of the discount. As you may recall, last week, there were multiple reports about Microsoft having two new Xbox One consoles that would be released by the end of 2017. The first of these, codenamed Scorpio, is rumored to be over four times more powerful than the current Xbox One and is supposed to be unveiled at E3 in June and released by late 2017. The second is a smaller version of the current hardware, which Microsoft promises will be the smallest Xbox ever made, that will come with a redesigned controller and is scheduled to be released in August.

Though we have to wait until E3 to confirm whether these reports are actually true, there have been a few developments here and there that appear to give credence to them. For example, late last week, it was reported that a major European developer was working on an Xbox One VR game. While that report, once again, can't be verified until E3 comes around, the fact that rumors about a new VR-capable Xbox One surfaced just days before it, was quite telling.

Now, we have a price cut that has already gone into effect at a number of retailers, such as Amazon, Best Buy and Gamestop. While there is always the chance that these price cuts are simply an E3 sale of sorts, it's suspicious, considering the rumors say that Microsoft will announce the new Xbox One consoles in just a few weeks. It would make no sense for Microsoft to have a full-priced Xbox One console if it has plans to release a new one in a few short months.

Regardless of what Microsoft's plans are, however, this discount means awesome deals for those who don't have an Xbox One yet. For example, prospective buyers can get the Xbox One Special Edition Quantum Break Bundle (or any bundles of its ilk) for $299 or the Xbox One Elite Bundle for $449.

With that said, it would be wise to hold onto your cash for the time being. With Microsoft poised to announce two more consoles, it would be unfortunate to spend $299, only to learn during E3 that Microsoft really does have more waiting in the wings.