It is not even Black Friday yet but November already seems to be a good month for Xbox fanatics, as Microsoft announced that Xbox One will drop down its regular price next week.

For a limited time, Xbox One console and bundle packages will shave off $50 from its original price.

Microsoft Corporate Vice President Yusuf Mehdi recently stated in Xbox Wire, "Fans don't have to wait for Black Friday this year to enjoy great savings on Xbox One. We're offering our best price yet, with unprecedented choices and value, so more people can play on Xbox One this holiday."

He also added, "We're gearing up for one of our biggest holidays ever and we are thrilled to offer fans up to $150 in savings on Xbox One and some of the biggest blockbuster games of the season."

The base units that come without game bundles that originally cost $399 will be sold for only $349.

Here is the new pricelist of Xbox One console and bundles:

• Xbox One without games - $349
• Xbox One with "Call of Duty: Advanced Warface" - $449 (with 1 TB hard drive and custom housing)
• Xbox One with "Sunset Overdrive" - $349 (with white finish)

The promotional price off for Xbox One will last from Nov. 2, 2014 until Jan. 3, 2015.

Another good news for Xbox One users: several major titles will also be given huge discounts starting on the last week of October until Nov. 3.

These games include "Titanfall" which will have a price reduction of 50 percent, the "Titanfall Season Pass" add-on game which will be slashed off by 67 percent, as well as the "Battlefield 4 Assault Shortcut Kit" which will be reduced by 33 percent.

The reduced game prices for the "Titanfall" games, however, are only available for all Xbox Deals with Gold subscribers. "The Battlefield 4" deal. on the other hand, can be availed by Xbox Live Gold and Silver members.