Just days before E3 2016, Microsoft has dropped the price of the Xbox One down to $299. Although the console has dipped down to that price range in the past, it was always for special events and promotions. This discount is also listed as lasting “for a limited time,” but the timing is very interesting.

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Before today, the price of the Xbox One was $349, which makes this a $50 price cut (the same as the last one). No specific reasoning was given for the new price, but based on all the rumors that have been swirling around the internet of late, it’s hard not to assume that Microsoft might have some new hardware in store for E3.

The price drop also applies to more expensive bundles, bringing The Division bundle down to $349, the Rainbow Six Siege bundle down to $319 and Elite Bundle down to $449. These aren’t bad deals if you’re in the market for a new Xbox One, but you might want to hold off on buying any console, Xbox or otherwise, until E3 is over and any new hardware updates have been unveiled.

Based on the latest reports, Microsoft is expected to launch a new, slim Xbox One later this year and an upgraded Xbox One with more impressive specifications in 2017. Sony is also rumored to be introducing a 4K console at E3.

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