Microsoft is offering up to $100 credit towards the purchase of an Xbox One if customers trade in a PS3, according to an advertising material posted online.
The advert, which first appeared on gaming forum NeoGAF, states Microsoft stores will "recycle your PS3" and give you "$100 of store credit towards the purchase of an Xbox One".
The advert is reportedly taken from the Microsoft store, which lists a number of terms and conditions. The promotion is valid from January 23 until February 28, and is only available in retail stores across the US and Canada. It is not available online or overseas.
The PS3 must be in working condition and "without broken/missing components, cracked display/housing, or liquid damage", the advert claimed. Additionally it cannot be password protected, and should include original chargers and accessories.
The terms and conditions also state "to receive maximum trade-in value, you must purchase an Xbox One at the same time", and "any appraised value will be determined at trade-in and provided as store credit". The promotion is limited to one Xbox One per trade-in/purchase.
Currently, the promotion is not visible on the website. CVG has contacted Microsoft for further information.
Microsoft's latest financial report stated the company shipped 3.9 million Xbox One units into retail globally before the end of 2013. The firm reported "record" revenues of $24.52 billion for the quarter, up from $21.46 billion during the same period in 2012. Net income for the quarter stood at $6.56 billion, up from $6.36 billion year-on-year.
Microsoft's Devices and Consumer Hardware division, which umbrellas Xbox, achieved significant growth over 2012, accounting for $4.7 billion in revenues, up from $2.8 billion the prior year.
It is now rumoured that Microsoft will release a white Xbox One in October, as well as a special Titanfall edition of its new console in March. It is claimed the white version will tie in with the release of Sunset Overdrive.