Microsoft has already reduced the price of Xbox One since its launch. Currently, Microsoft is selling Xbox One for 399 Euros in the UK. Recently, a NeoGAF user spotted that Xbox One listed for a lower price tag of 349.99 Euros on Xbox Spanish site which led many websites to speculate that Microsoft is planning another round of price cuts for Xbox One. Microsoft today confirmed that the listing was a mistake and they have no plans for price cuts in the near future. Microsoft Xbox One is now priced at the same level of Sony PS4 and the only possibility Microsoft could lower the price in the near future is when Sony does it. As you all know, Sony is in a bad financial position and they would not be ready to lose money on selling PS4.
So, this puts an end to all Xbox One price cut rumors and reports.