Microsoft Corp. this week price cut the Xbox One to under $300 in a new retail initiative.

This week, select Xbox One bundles sell at $299.99, $50 off the $349.99 MSRP.

Bundles at $299.99 include the Xbox One 500GB Quantum Break Bundle and the Xbox One 500GB Name Your Game Bundle.

Xbox hardware revenue declined 17 percent in the first quarter due to lower Xbox 360 sales volume.

Xbox Live users increased 28 percent in the period to 39 million users.

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