Xbox One sales are "catching up quickly" to PS4, according to EA's chief financial officer Blake Jorgensen, who believes that Microsoft's recent price reductions will help the company sell additional consoles over the Christmas period.

"Clearly Sony has jumped out to a lead with a great console and I think a great pricing strategy," Jorgensen is reported to have said at the UBS Global Technology Conference. But, he said, "Microsoft is catching up quickly".

"Pricing actions that are taking place, particularly within this Christmas season, driven by Microsoft around reductions plus a lot of bundled software, I think will continue to help pull the consumer into the new consoles."

Although Xbox One sales continue to rise, Sony is still believed to have a significant lead over Microsoft with over 13.5 million PlayStation 4 consoles sold as of September 2014.

In comparison, Microsoft announced last week that it had shipped almost 10 million Xbox One consoles to retail.

After the Christmas holiday, the installed base for next-gen consoles will be "north of 25 million", Jorgensen believes.

Microsoft dropped the price of Xbox One to £329 in September, with similar price cuts available in the US.

Source: gamasutra.com