Microsoft is offering a limited period discount on its Xbox One gaming console, making it cheaper than Sony's PlayStation 4, for the holiday sales.

Microsoft, the world's largest software making company, has an unbeatable offer for its potential buyers - a discounted Xbox One at price lower than PlayStation 4 for the holidays. The limited period discount starts Nov. 2 and runs through Jan. 3.

In an official statement published on the Xbox Wire blog, Microsoft said the Xbox One will be up for grabs for just $349 in the U.S. across all major retailers including Amazon, Best Buy, GameStop, Target, Wal-Mart and others. The promotion offer discounts $50 on the purchase of Xbox One console or any exclusive bundle.

"Fans don't have to wait for Black Friday this year to enjoy great savings on Xbox One. We're offering our best price yet, with unprecedented choices and value, so more people can play on Xbox One this holiday," Yusuf Mehdi, corporate vice president at Microsoft, said in a statement, Monday. "We're gearing up for one of our biggest holidays ever and we are thrilled to offer fans up to $150 in savings on Xbox One and some of the biggest blockbuster games of the season."

The discount comes mainly as a way to win back customers from the best-selling PlayStation 4. By offering a $50 discount on Xbox One, the cheapest model now costs 13 percent lesser than PS4, which retails for $400 in the U.S., Bloomberg reports. Still, if buyers choose to bundle the Kinect sensor with the Xbox One gaming console, the final cost of the hardware will fire up. But thanks to the promotion sale, exclusive bundles throw in famous titles to make the purchase worthy.

For $449, buyers can choose between Xbox One Assassin's Creed Bundle with Kinect or Xbox One Limited Edition Call of Duty: Advanced Warfare Bundle. Losing the Kinect in the former bundle, the cost of the console with Assassin's Creed Unity as well as Assassin's Creed IV: Black Flag will drop down to $349. The $449 limited edition bundle comes with 1TB hard drive, custom console, custom controller and Limited Edition exoskeleton and a digital copy of the Call of Duty: Advanced Warfare Day Zero Edition, the company said.