The Xbox One's price cut earlier this month has led to a huge increase in system sales, at least in the US, Microsoft announced today. The uptick in sales, also related to the many new Xbox One bundles, has been so dramatic that the Xbox One has outpaced PlayStation 4 sales over the past two weeks, Microsoft said.

"The response to this wave of blockbuster game releases and new bundles has been amazing, and sales have skyrocketed since the new price took effect on Nov. 2," Microsoft executive Yusuf Mehdi announced in a blog post. "Compared to the previous week, Xbox One sales in the US have more than tripled, which is exciting as more and more friends will be playing together this holiday."

"As we head into the busy holiday season, Xbox One led generation eight console sales in the US for the past two weeks," he added. "Shortly, we will have sold in to retailers more than 10 million Xbox One consoles."

The Xbox One is currently available in the United States starting a $350, which is $50 less expensive than the base PS4 model. The Xbox One will be available at the lower price point until January 2015.

By comparison, Sony has sold more than 13.5 million PS4s.

November 2014 marks the one-year anniversary for the Xbox One and PS4. Mehdi thanked Xbox fans for their passion and feedback in the past year.

"Almost one year ago, I had the honor of shaking hands with hundreds of fans at our Xbox One launch in New York City. We have listened to your feedback and have worked hard to deliver hundreds of improvements to Xbox One, celebrated the launch of amazing new games, and sought ways to offer more value for you," he said. "As we reach this milestone, I remain awestruck by your passion for games and your support of Xbox One. Thank you for an incredible year."

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