Microsoft says Xbox One price cut was an error, no plans to drop price just yet

Xbox One

Earlier this week, some reports mentioned that Microsoft Spain was reducing the price of the Xbox One to €349.99, instead of the official €399.99 price tag -- a significant decrease making the console cheaper than the PS4 in the region.

It did make a lot of users happy, but it won't last long as Microsoft has confirmed that it was an error. Currently, the company has no plans whatsoever to reduce the price of the Xbox One so don't get too excited -- we could see retailers drop the price during the holiday season, which is still a few months away. 

There you have it folks. Don't go around looking for a cheaper Xbox One at the moment. We'll update you if Microsoft decides to reduce the price, or if we come across any deals from retailers across the globe.

Not too long ago, the software giant launched a cheaper, Kinect-less version of the Xbox One, which has improved the sales figure of the console. The sales, as Microsoft described it, doubled after the price fall but it's still lagging behind the PlayStation 4. There's still a need for Microsoft to pull some kind of stunt to boost the sales of their console, and reducing its price a little further could help them achieve it.

Microsoft is set to take the stage on Gamescom later this month, and we may see some exciting news related to the Xbox One. It's not only specific to the Xbox One price cut, but the console in a white paint job may make its official appearance there.