Microsoft's Xbox One has finally outsold Sony's PlayStation 4, becoming the number one selling gaming console in both the US and the UK for the month of November, according to latest figures released by the NPD Group.

PS4 has been consistently topping the sales charts in the US since January, but it seems like the holiday season and most importantly the recent $50 price cut propelled sales of Microsoft's gaming console.

Confirming the news, Xbox's VP of marketing Mike Nichols told Gamespot,  "November set a new record for sales of Xbox One, and Xbox One was the best-selling console in the US and UK." Last month, Microsoft announced that the overall sales of Xbox One would shortly hit the 10 million mark, and Geekwire is now reporting that the company sold 1.2 million units in the US during November.

As for software, Activision's Call of Duty: Advanced Warfare topped the charts, followed by Rockstar Games' Grand Theft Auto 5, and Nintendo's new Super Smash Bros. The Japanese video game company said it has sold more than 710,000 copies of Super Smash Bros. for Wii U in the US since its launch, adding that AmiiBo sales were "approximately equal" to sales of the fighting game.

Overall, video game sales stood at $2.41 billion, down 11 percent year-on-year, while hardware sales stood at $1.10 billion, down 23 percent from $1.31 billion a year ago.