China recently decided to lift its ban on gaming consoles, and Microsoft was first at bat with the Xbox One, but now it's changing gears.

Kotaku reports that when China originally lifted the bans on its gaming consoles, the Xbox One came out of the gate with great sales. However, now its sales are faltering. The consoles just aren't selling as they used to (due to delayed video streaming and lack of games), and Microsoft is getting anxious knowing that the PlayStation 4's Chinese release is imminent. So, Microsoft has decided to drop the price of the console, mirroring the price drop in the U.S. However, unlike the U.S., where it seems that the console will raise back to its normal price once the holidays are over, in China there doesn't seem to be a time restriction.

The price of the Xbox One has dropped 500 RMB or $80 since its original launch price of 4,299 RMB ($694.28) for the Xbox One with Kinect and 3,699 ($597.38) RMB for the Xbox One without. However, the dropped prices (3,799 RMB and 3,199 RMB) are still no match to the PlayStation 4's release price of 2,899 RMB ($468.18). So, now the question is, will the Xbox One's sales pick up after the PlayStation 4 release?

We'll just have to wait for the launch of the PlayStation 4 and PlayStation Vita on Jan. 11 to determine which console will be the winner.