The price of Xbox One at UK retail is 299.99, Microsoft has announced.
The deal is led by retail, the platform holder tells MCV, and this price is for the UK only.
The last retail-led Xbox One price cut was in September, when the price fell to 330. Despite being billed as a temporary promotion, the console's price has actually remained below 330 ever since at most UK stores.
Microsoft has been adopting aggressive price activity in a bid to keep pace with PS4 in the new-generation hardware race. The firm lowered the price of Xbox One ahead of the arrival of Titanfall in February last year, from 430 to 399.99. It then reduced it to 350 in June with the removal of the Kinect sensor.
Since then, UK retailers have taken to reducing the price and developing its own Xbox One bundles.
On the current 299 offer, a Microsoft spokesperson said: This is a UK-only retail promotion and offers great value for fans looking to buy an Xbox One ahead of the launch of 2015's highly-anticipated games like The Witcher 3: Wild Hunt, Metal Gear Solid V: The Phantom Pain and Batman: Arkham Knight, along with Xbox exclusives such as Rise of the Tomb Raider, Forza Motorsport 6 and Halo 5: Guardians.”
Microsoft is advertising the new offer on TV.