Xbox declares it won’t raise the price of its consoles

The financial reality we’re facing worldwide has taken a toll on the videogame industry; in the past, we learned about Sony’s plans to elevate prices on its consoles. This announcement clearly left PlayStation fans shocked and overall disappointed. In Europe, Sony’s being sued for overcharging customers, so you go the idea. High prices, low spirits.

According to Eurogamer, PlayStation boss Jim Ryan blamed Sony's decision on "high global inflation rates, as well as adverse currency trends, impacting consumers and creating pressures on many industries" and said it had been a "difficult decision."

Today, Xbox stated that it wouldn’t pursue the raise in pricing on its consoles. Contrary to Sony’s perspective on the matter, the big X is looking forward to supporting its customers by staying still for now: "When our customers are more economically challenged and uncertain than ever, we don't think it's the right move."

During an interview with CNBC, Xbox boss Phil Spencer mentioned the current economic issues many were facing and said Xbox didn't think it "was the right move for us at this point.”

"In a time when our customers are more economically challenged and uncertain than ever, we don't think it's the right move for us at this point to raise prices on our consoles," Spencer said.

$MSFT's @XboxP3 talks #Tencent, #JRPG's, and @discord - and explains why it's not time to follow $SONY's hike in prices. #Xbox #PlayStation pic.twitter.com/BCIY0wE8Gt

— Squawk Asia (@asiasquawkbox) September 16, 2022

"Y'know, we're always evaluating our business going forward, so I don't think we can ever say on anything that we will never do something," Spencer explained. "But when we look at our consoles today... we think the value is incredibly important. We love the position of Series S in the market - which is our lower-cost console. Over half of our new players that we're finding are coming in through Series S, and I can definitely say we have no plans today to raise the price of our consoles."

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