Sony's PlayStation 4 (PS4) is finally cutting its price, and it's just in time for the holiday season. The PS4's price will be decreased to $349 in North America.

PS4 has remained its $399 price point since it was released two years ago. PS4's direct competitor Microsoft's Xbox One was permanently reduced to $349 in June, according to Attack of the Fan Boy.

Even with the more costly system, the PS4 continues to dominate console sales over the Xbox One. The price reduction should help it continue that dominance.

The 500 GB version of the PS4 will drop to $349 and bundle consoles will also drop their prices, Tech Radar reports.

The Uncharted: The Nathan Drake Collection PS4 Bundle with a 500 GB hard drive will be offered for $349.99, which makes the game free. This bundle will be available Friday.

The Limited Edition Call of Duty: Black Ops III PS4 Bundle with a 1TB hard drive will be priced at $429.99. At this price, buyers are getting the larger hard drive and a brand new game for just $30 more than the old price of the 500 GB PS4 with no games. This bundle will be available Nov. 6.

A special limited edition Star Wars Battlefront PS4 with a 500 GB hard drive will be priced at $399.99. This console will have a Star Wars Battlefront design to it and be priced at the former price of the standard PS4. This bundle will be available Nov. 17.

A bundle that includes the standard PS4 500 GB console with Star Wars Battlefront will be sold for $349.99. This means that Star Wars Battlefront will be free. This bundle will be available Nov. 17.

"Our goal at PlayStation has always been to offer the best place to play at a compelling value to gamers," Shawn Layden, president and CEO of Sony Computer Entertainment America said.

"We're continuing to deliver on that commitment with this new price for PS4, making the console even more accessible to a broader audience this holiday. With highly anticipated games like Call of Duty: Black Ops III and Star Wars Battlefront launching soon and blockbuster exclusives like Uncharted 4: A Thief's End on the horizon, there has never been a better time to join the PS4 community," Layden said.