Xbox One UK price now ?299.99

Microsoft has today begun advertising a new, lower price point for Xbox One in the UK - £299.99.

The console's RRP was previously listed at £329.99.

Microsoft UK is labelling the new price as a retailer promotion rather than an official price cut, although this is the same terminology used back in September when the console's price tag last dropped.

"This is a UK-only retail promotion," a Microsoft spokesperson told Eurogamer, "and offers great value for fans looking to buy an Xbox One ahead of the launch of 2015's highly-anticipated games like The Witcher 3: Wild Hunt, Metal Gear Solid 5: The Phantom Pain and Batman: Arkham Knight, along with Xbox exclusives such as Rise of the Tomb Raider, Forza Motorsport 6 and Halo 5: Guardians."

It marks the fourth time that Microsoft has lowered the console's cost since Xbox One launched in November 2013, when it was priced at £429.99 and bundled with Kinect plus a free copy of FIFA 15.

After the console's first Christmas - and in the lead-up to the launch of Titanfall - Microsoft UK initially cut the console's price to £399.99.

Xbox One then became cheaper again - falling to £349.99 - when Microsoft launched its Kinect-free bundle.

Then, last September, Microsoft cut Xbox One's price to £329.99 ahead of the launch of Forza Horizon 2, Sunset Overdrive and Halo: The Master Chief Collection.

PlayStation 4 launched in the UK at £349.99, a price it has maintained.