(Pocket-lint) - Microsoft has slashed the price of the Xbox One to less than £300, at least for the time being.

Some retailers already sell it at that price, or even less, of course, but this is an official price drop. It also includes the Halo: The Master Chief Collection bundle for that price, which represents excellent value for money considering you are getting four games.

The console without the Halo package is now £299.99 too and the Xbox One with Kinect bundle has dropped to £389.99.

Sony's PlayStation 4 is still officially £349.99, although you can also find significant retailer discounts for that too.

The battle between the now current generation consoles (we think enough time has passed to safely call them that) is soon to intensify with exclusive games coming for each. However, after some major successes for Sony recently - most notably the excellent Bloodborne - Microsoft could be gaining the upper hand, especially on the build up to Christmas, with Halo 5, Rise of the Tomb Raider and Forza Motorsport 6 all coming this year.

READ: Halo: The Master Chief Collection review: High-def history lesson

Sony's biggest exclusive title, Uncharted 4: A Thief's End, slipped from its initial winter 2015 release date to early 2016 instead. It will be banking a lot on Tearaway Unfolded and Until Dawn in the meantime, although there might be one or two tricks up its sleeve to be revealed at this year's E3 in June.

Writing by Rik Henderson.