Following Microsoft's somewhat surprise announcement today of a $50 price cut for all Xbox One systems, company executive Aaron Greenberg says the move--along with big games and new IP--will pave the way for a "bright future" for the console.

"We have the best games, exclusives, and new IP," Greenberg said to a fan on Twitter, reiterating Microsoft's stance on the appeal of the Xbox One. "A bright future ahead for sure!"

The $50 off deal begins this Sunday, November 2. It's good (in the United States only) for standard Xbox One systems with or without Kinect, as well as the Assassin's Creed Unity, Call of Duty: Advanced Warfare, and Sunset Overdrive bundles.

The price cut will make the Xbox One less expensive than the rival PlayStation 4, which sells for $400. Sony has not announced any limited-time deals for their console this holiday, at least not yet.

With more than 10 million systems sold as of August 2014, the PS4 is the king of the current-generation consoles. Microsoft has not announced a new tally for the Xbox One in months, though sales are believed to be north of 5 million units.

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