Sony's PlayStation 4 has been out-selling Microsoft's Xbox One for a majority of the time ever since both consoles launched in November of 2013. But the Xbox One isn't out of the race just yet, as Microsoft recently announced a successful final quarter in 2014.

According to an official Microsoft press release, the gaming giant was able to offload 6.6 million Xbox One and Xbox 360 consoles in its final 2014 quarter, which is reportedly 2.5 million more PlayStation 4s than Sony sold during the same time period.

Like Us on Facebook

The PlayStation 4 has been dominating the console war up until November when Microsoft began reporting more unit sales than Sony.

The increase in sales was in large part due to Microsoft bringing the price of the Xbox One down $50 for a total of $349.99. Microsoft also had a number of bundle deals during Black Friday and the holidays enticing more gamers to buy its next-gen console.

Despite the successful final quarter however, Sony has still been dominating the race for best gaming console for the most part, and Microsoft will need to continue adding marketing strategies to attract more sales if it hopes to catch up.

Sony sold one million PlayStation 4 consoles in the first 24-hours of its release alone. A Japanese press release translated by Reuters shows a total of 18.5 million PlayStation 4 consoles sold in 2014.

"While we do foresee Xbox One selling a healthy amount out to 2018 on a worldwide basis, we don't yet see the gap between the two formats narrowing in any significant manner," says IHS analyst, Steve Bailey.

TagsXbox One, sony, playstation 4, Next-Gen, console war, Gaming, sales