And the additional $50 (about £30, AU$56) Microsoft just took off its console's price tag will probably help.
The offer takes the shape of a temporary discount, according to Forbes.
It brings the Xbox One's price down to $350 (about £215, AU$400), officially less than the PS4's.
How low can you go
The Xbox One's first price cut came earlier this year when Microsoft de-bundled it from Kinect, resulting in a cheaper core console without bonuses like voice commands and gesture controls.
The additional money off is another step in the right direction, although the rebate is currently available only in the US and reportedly for a limited time.
But while the PS4 is still ahead, it's conceivable that Microsoft might one day close the gap.
Microsoft is also offering numerous Xbox One holiday bundles, including packages with Call of Duty: Advanced Warfare, Assassin's Creed Unity and Sunset Overdrive.