Business

Microsoft Announces Significant Price Hikes for Xbox Consoles and Games Amid Rising Costs

Global Price Adjustments for Xbox Consoles and Accessories

In a move that reflects the broader challenges of the gaming industry, Microsoft Corporation has announced a worldwide increase in the recommended retail prices for its Xbox consoles and accessories. The decision, attributed to escalating development costs, marks a significant shift in the company's pricing strategy.

Detailed Price Changes

The Xbox Series X will now retail at $599.99 in the US, an increase of $100. Meanwhile, the 512GB Xbox Series S sees an $80 jump to $379.99. The 1TB version has been adjusted to $429.99, with the new 2TB Galaxy Black edition priced at a premium $729.99.

Accessories and Games Affected

Price adjustments extend beyond consoles, affecting controllers and accessories globally, with headsets seeing hikes in the US and Canada. Additionally, Microsoft plans to increase the price of select new first-party games to $79.99 starting this holiday season.

"We understand that these changes are challenging, and they were made with careful consideration given market conditions and the rising cost of development," the company stated, acknowledging the potential impact on consumers.