It has been a brutal week for consumer electronics, with the eye-watering price tag of Steam Machine, steep price increases from Apple and now another round of Xbox price hikes.
- "Effective August 1, 2026, we will be updating prices worldwide. The price of XBOX consoles will increase by US$100 for 512 GB models and US$150 for 1 TB models. We will also be sunsetting our 2 TB model," Microsoft announced.
Euro and local-market pricing has not yet been confirmed, but similar increases are expected.
Also read: New TV before 'RAMageddon'? Prices expected to rise
Buy before prices increase
There is still a small window to buy Xbox consoles at current prices if you act quickly. It may be worth considering if you plan to play GTA 6, which requires an Xbox Series console or PlayStation 5. Xbox One and PS4 are not supported.
Current console prices are:
Console prices are skyrocketing
Since the Xbox Series launched in November 2020, Microsoft has raised prices three times. Starting August 2026, the Xbox Series S 512GB will cost the same as the Xbox Series X 1TB did at launch in 2020.
Sony most recently
hikes its prices of PS5 and PS5 Pro in April 2026.
Microsoft warns that further price increases may be unavoidable.
"We hoped another price increase would not be necessary, and we have spent the last several months working with suppliers on options. Unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027. The entire consumer electronics industry is struggling with the current components crisis, but the effects are particularly hard on consoles. Unlike phones, computers, speakers, and other consumer devices, consoles are typically not sold at a profit, but instead for less than they cost to make," Xbox said in a statement.
Also read: Next-gen Xbox to be more expensive: "Very premium, very high-end"
