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Xbox One prices slashed by $50

Emilia David, special to CNBC

Microsoft will cut prices of Xbox One by $50 until the end of the year.

The game console, which was released last year, will sell for less beginning Nov. 2 according to a report from CNET. Microsoft has not released sales figures for the Xbox One since April leading many to believe it has not been selling well.

Xbox One boxes in the window of a Game Stop store
Scott Mlyn | CNBC

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"The company said in a statement the Xbox One model that comes with the Kinect motion camera accessory will retail for $449, down from $499. The standalone Xbox One without Kinect will sell for $349 from its earlier $399 price tag," said CNET.

The price cut comes at a time when new installments of popular games like "Call of Duty" are released.

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This strategy is vastly different from that of Sony, makers of the Playstation 4. The company is offering special access to features for popular games. The Playstation 4 is said to be the best selling console in the U.S. and notched its 10 millionth sale in August.

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