Microsoft has cut the price of Xbox One in the UK to £329.99, making it cheaper than Sony's PS4 for the first time in the country.

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The Microsoft Store is now offering the console at the cheaper price, which marks the third price cut we've seen for the new hardware in 10 months. It launched last November for £429.99, before being reduced to £349.99, which is how much a PS4 currently sets you back.As you can imagine, the £329.99 bundle doesn't include a Kinect sensor or any games. Having said that, retailers are starting to match the price, with a White Xbox One and Sunset Overdrive bundle listed on Amazon for £329.“We are always looking at ways to offer the best value for our customers," Microsoft told IGN. "This is a UK only retail promotion which coincides with our upcoming releases including Forza Horizon 2, Sunset Overdrive and Halo: The Master Chief Collection.”The decision isn't hugely surprising, as the PlayStation 4 continues to outsell the Xbox One in the UK . Seeing as Microsoft has marketing deals with EA and Activision for FIFA 15 and Call of Duty: Advanced Warfare respectively, the price cut could be the final weapon needed to even the playing field a bit.

Luke Karmali is IGN's UK News Editor. You too can revel in mediocrity by following him on Twitter