Sony admits US console fight growing as Xbox One price cuts working

It will be fun to see analyst sales figures for console sales after Christmas, as Sony Computer Entertainment CEO Andrew House admits the Xbox One is giving the PlayStation 4 a run for its money. Even though sales are described as "in line" with Sony's previous expectations, the cheaper price tag for the Xbox One has led to a significant sales bump for Microsoft.

The Xbox One starts at $350 in the United States, while the PS4 is available starting at $400. The $50 price cut was announced in November and will continue to January 3, 2015.

It appears to be a good time to be a console gamer, as both companies also have several appealing console/game bundles available. Expect continued price cuts and increased competition from both companies in 2015, while they try to woo gamers to their respective platforms.