The first Xbox One price cut has been introduced, with online retailer Zavvi slashing £20 from the next-gen console.
Bringing the Xbox One price down to £409.99, Zavvi has brought the latest Microsoft console closer to the £349 currently being charged for the rival PS4. Having launched back in November, the Xbox One price was originally set at £429.
Although the Xbox One has been in short supply since launch, the newly introduced Xbox One price cut suggests that the next-gen gamer is now readily available, with the former high street presence even offering the console alongside free UK shipping.
According to Zavvi, which is still selling the PS4 at its launch price, the Xbox One is currently ‘In Stock’ and will ship within 24 hours of orders being placed.
With recent figures having suggested that the Xbox One trailed the PS4 in terms of pre-Christmas sales in the UK, it has been suggested that the reduced popularity of the Microsoft-branded console can be attributed largely to its more costly price tag.
Earlier this month analysts predicted that Microsoft would be forced to introduce an Xbox One price cut ‘faster than forecast’ in order to compete with Sony’s PS4.
"It is possible that Microsoft will reduce Xbox One pricing far faster than we have forecasted,” industry analyst Michael Pachter of investment firm Wedbush Morgan said in a recent note to clients.
He added: "We think 'winning' is important to both companies. Should hardware prices come down faster than we have modelled, it is likely that hardware and software sales will grow faster."
The current Xbox One price cut is not an official slashing of the console’s price but instead an internal offer being provided by a lone retailer.
Zavvi has yet to reveal how long it will offer the new Xbox One price cut for so if you fancy a new console and want to save £20 we suggest you act fast.
Read More: Xbox One vs PS4