Sony dropping PlayStation 4 price by $50 in US, $20 in Canada beginning Oct. 9

Sony's PlayStation 4 will soon cost $50 less in the United States when the price of an entry-level console drops to $349 beginning Friday, Oct. 9, the company announced today, while Canadians will see a $20 price cut to $429 on the same date.

The new price, which applies to the company's 500GB console, puts the PlayStation 4 at the same pricing scheme as Microsoft's Xbox One, which also costs $349 in the U.S. for a 500GB version. Sony's North American price cut comes a month after of a similar price reduction in Japan.

Sony has led the current-generation console war almost as long as it's existed, with the PlayStation 4 leading the console market's sales in almost every months since its release. Last year, however, Xbox One led holiday sales, and this year Microsoft has announced several bundles for the holiday season that come with at least one free game.

Source: Sony