Update:

We asked Microsoft how long the new $349 promotion will last. A spokesperson responded:

“We are not going into depth on the life of the price promotion at this time, but we will share more details soon.”

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Microsoft has announced it will renew the $349 Xbox One price point once again for a promotion starting January 16."The Xbox One deals were quite popular and have inspired a new promotion starting January 16 where fans in the US can buy an Xbox One for $349 at their preferred retailer," said Major Nelson on his blog.He also announced that the Xbox One was the best selling console in the US in December, according to NPD. Xbox One topped the console sales chart last November as well.The $50 holiday price drop in the US was announced last October. Since the sale, Microsoft corporate VP Yusuf Mehdi said Xbox One sales have tripled. After the holiday season, the price of an Xbox One went back up to $399.The Xbox One is now available for $349 on Amazon IGN has reached out to Microsoft asking how long this new promotion will last. We'll keep you updated when we know more.

Brian is an associate editor at IGN. You can follow him @albinoalbert on Twitter