Back in November, Microsoft dropped the price of the Xbox One down to $349 as part of a “promotion” (read: market test) through the holidays.
It did great! Hell, it managed to outsell the PS4 for once, ending Sony’s long running streak as top seller. Then it did it again in December!
Then came the New Year. Right as the ball dropped, Microsoft bumped the price back up to $399.
Seems that move didn’t play out too well; just two weeks later, in what might be the shortest-lived console price increase ever, Microsoft has just announced they’re cutting the price back down to $349 starting tomorrow, January 16.
They’re still calling it a “promotion” for now, rather than outright slashing the price — but it’s pretty clear what’s going on here. If the console were selling sufficiently at $399, they’d keep it at $399.
If you happened to buy an Xbox One in the two weeks where Microsoft spiked the price, be sure to check if the seller has any sort of 30-day price guarantee.