Trade in your current-gen console and get $100 off an Xbox One

A new promotion from the Microsoft retail store offers PlayStation 3 and Xbox 360 owners $100 off an Xbox One if they “recycle” their older consoles. The promotion began on January 23 and runs through March 2, 2014, according to Microsoft.

XboneIn order to get the store credit, you must make your way to one of the company’s official retail stores in Canada or the United States. The deal is not eligible online or in other countries, and the $100 credit is specifically for the purchase of an Xbox One.

The deal is open to anyone that brings in a PS3, Xbox 360, or an Xbox 360 E. The trade-in consoles must be in working condition, and cannot be cracked or password protected.

The $100 discount levels the playing field – no pun intended – between the PlayStation 4 and the Xbox One, at least when it comes to the price. The Xbox One currently retails at $499 prior to the discount, while the PS4 retails for $399.

The price difference hasn’t seemed to significantly hurt the sales of the Xbox One though. Microsoft recently released its Q3 results for the 2014 fiscal year, and it showed that the Xbox One shipped 3.9 million consoles since launch.

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