Xbox Series X price hiked by £170 due to rising memory chip costs
Summary
Microsoft has raised the price of its Xbox consoles around the world due to higher costs for memory and storage chips. The Xbox Series X now costs £670 in the UK, up from £500, and the Series S costs £430, up from £300. Other companies like Sony have also increased prices for gaming consoles because of rising component costs.Key Facts
- Xbox Series X price in the UK rose by £170, from £500 to £670.
- Xbox Series S price in the UK increased by £130, from £300 to £430 (about 43% increase).
- In the US, Xbox consoles increased by $100 to $499 (basic) and $150 to $749 (higher memory model).
- Sony raised PlayStation 5 prices by £90 in March for similar reasons.
- Rising costs are linked to more expensive memory chips, storage, and graphics cards, partly due to demand from AI companies.
- Valve also launched a PC-console hybrid at a higher price than expected because of rising hardware costs.
- Microsoft said it hoped to avoid another price increase but needed to respond to the higher costs.
- Xbox recently cut about 3,200 jobs during a major restructuring amid declining gaming revenues.
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