Microsoft increases Xbox prices again: “Never thought I'd see the day video games become an investment”
Microsoft is increasing the price of the Xbox for the third time since last year, and there’s no end in sight.
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Xbox consoles are going up by $100-$150 starting August 1st, the third increase since last year.
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Microsoft is working on installment plans, trade-ins, and refurbished console sales to soften the blow.
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Gamers are increasingly viewing consoles as luxury investments, with fears that the hobby is becoming unaffordable for average consumers.
Starting August 1st, the price of the 512GB Xbox console model will increase by $100, while the 1TB model will cost $150 more. According to Microsoft, the decision will affect users worldwide.
Microsoft also said that it will discontinue its 2TB model.
“Unfortunately, console storage and memory prices have increased by more than 2.5x, and we expect another doubling by the fall of 2027,” the company said in a blog post explaining why it had to increase the price for a third time.
In October last year, Microsoft increased Xbox console prices in the US by $20 to $70.
With the upcoming price increase, the Microsoft Xbox Series X 1TB model with disc drive will cost $800, while all digital models will be priced at $750.
The Xbox Series S 512GB model will cost $500 instead of $400, and the 1TB model will cost $600 instead of $450.
Microsoft introduces “Buy Now, Pay Later” scheme
Considering how pricey gaming consoles will become in the near future, the Xbox creator also introduced several ways to make them “more accessible.”
The company says consumers can now get the console via the “Buy Now, Pay Later” method via Microsoft Stores. This way, customers can purchase by making “predictable short-term, interest-free installments.”
Microsoft is in talks with “partners” to give its users the option to buy its products with 0% APR financing for up to 12 months.
The company is also working on programs that would allow players to trade in their consoles for money or store credit. Such devices would then be resold to other players at a lower price.
Microsoft also revealed that users can buy its refurbished Xbox consoles at Microsoft Stores.
“Gaming is for the 1% now?”
“Never thought I'd see the day video games become an investment. Same thing happened with my Switch 2, Steam Deck, etc,” wrote one Reddit user after seeing the news about yet another Xbox price hike.
Many other users agreed that purchasing the gaming console feels like an investment now.
“Damn. I thought I overpaid for the 2TB model a couple of years ago. Now I feel like I got a bargain at $599,” wrote another user, adding, “How are they supposed to be launching a new console next year? Gaming is for the 1% now?”
“Gaming is just going to be a nearly impossible hobby to get into for the average person, and I know these companies will see a stagnation in growth in the console ecosystem,” shared another netizen.
Updated XBOX Console Prices - XBOX Wire
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The company recently revealed that it will release the Xbox Series X25 limited-edition gaming console in November.
However, many were already worried that they wouldn’t be able to get it due to scalpers – people who buy high-demand products or services in bulk and later resell them for a higher price.
With the upcoming price hikes and scalping practices combined, getting your hands on your favorite gaming console could soon be more difficult than ever.
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