Xbox to raise console prices worldwide by up to $150 — citing global crisis | Latest Tech News
Microsoft’s Xbox is raising prices of its gaming consoles by up to $150 worldwide, citing a deepening global elements crisis that has despatched storage and reminiscence prices hovering across the patron electronics industry.
Groups representing automakers, retailers, electronics companies and others had warned earlier this month that the rising demand for reminiscence chips could lead on to dramatic price hikes in U.S. shopper items and disrupt provide chains.
Effective Aug. 1, the price of Xbox consoles will increase by $100 for 512 GB fashions and $150 for 1 TB fashions. Microsoft will also discontinue its 2 TB model.
Microsoft Xbox said prices for its gaming consoles will rise as a lot as $150 this summer time. CFOTO/Future Publishing via Getty Images
“Unfortunately, console storage and memory prices have increased by more than 2.5 times and we expect another doubling by the fall of 2027,” Xbox said, including that the {hardware} provide chain crisis has hit the gaming sector significantly arduous.
Xbox raised the prices of its consoles twice last 12 months as it grappled with tariff-induced value pressures, strong competitors and unsure spending.
Rival Sony raised the prices of its PlayStation 5 consoles in April, following a price increase last August last 12 months.
Microsoft Xbox raised prices on its gaming consoles twice last 12 months. Bloomberg via Getty Images
Apple, the world’s most beneficial shopper electronics company, raised iPad and MacBook prices on Thursday, saying it may no longer protect clients from hovering reminiscence and storage chip prices pushed by the AI industry’s datacenter buildout.
Xbox is planning major layoffs next month and important cuts to advertising and marketing and other budgets, Bloomberg News reported earlier this month.
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