Xbox One price drops to $299 ahead of 'slim' console rumor for E3

Microsoft is discounting its Xbox One to $299 ahead of new hardware expected next month at E3. The software giant unveiled the promotion over the weekend, and every Xbox One bundle is now reduced by $50 until June 13th. Microsoft's timing is well suited to its E3 press conference, which starts on June 13th. Rumors suggest Microsoft will launch a new "slim" Xbox One at E3 next month.

The updated Xbox One console is expected to be 40 percent smaller than the current model. While Microsoft's console price drop looks temporary, it could be a permanent move to position the smaller successor at a higher price point and sell off existing inventory of the current Xbox One model. Microsoft is also expected to launch two new Xbox streaming devices at E3 next month, with rumors suggesting one will be Chromecast-like and the other more of a set-top box for casual gaming, apps, and streaming Xbox games from a full Xbox One console. The Verge will be covering Microsoft's E3 announcements live from the show next month at 12:30PM ET / 9:30AM PT on June 13th.

The most exciting Xbox games coming out this spring

• ViaPolygon
• SourceXbox (Twitter) Xbox