Microsoft is also promising deals on several games between November 22nd and November 30th, including Forza Horizon 4 (up to 35 percent off), Forza Motorsport 7 (as much as 50 percent off), PUBG (35 percent off) and Sea of Thieves (50 percent off).

It's not surprising that Microsoft would slash the Xbox One X's price in time for the Black Friday sales frenzy, but it's notable just a year after the machine arrived. It also illustrates the competitive pressure going into the holiday. Sony is already selling the PS4 Pro for $400 before discounts, and the Xbox One X is no longer a shiny new system that can command a premium -- this sale might be important to reel in buyers who could be focused more on price.