While in Japan for the Tokyo Game Show, Xbox executive Phil Spencer confirmed that the Xbox Series console's price would not be increased for the time being. The Xbox CEO stated that the game console would maintain its current prices in solidarity with users who the recent global economic downturn has impacted.
According to a previous Tech Times report, the confirmation from the Xbox CEO comes after Sony raised the price of the PlayStation 5 (PS5) in various parts of the world. Sony's decision to raise prices raised many eyebrows, given that current inflation is causing financial distress for many.
As per IGN, Sony announced on Aug 25 that it would raise the price of the PS5 in Europe, the United Kingdom, the Middle East, Africa, Asia, Latin America, and Canada due to "high global inflation rates as well as currency fluctuations trends."
Xbox Exec Confirms No Console Price Hike
A Gamesradar report tells us that Spencer acknowledges that the company is constantly evaluating its business and maintaining the prices it believes are the best option to keep up with. He also stated that, despite the Activision Blizzard bid, Microsoft has no plans to reduce its investment in game studios.
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In an interview with CNBC Squawk Asia, Spencer stated that the Xbox Series X and S would remain at $499 and $299, respectively. The Xbox CEO told CNBC that the company is confident in the current market position of its products, highlighting the Xbox Series X, which accounts for half of the company's user base.
$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
A Kotaku correspondence tells us that although this is a more explicit admission that fans should not expect price increases anytime soon, Spencer added that "going forward," the company cannot completely rule out the possibility of a price change. This is noteworthy because the market is currently undergoing global inflation, and console companies such as Xbox are still restoring from a chip shortfall that occurred earlier this year.
Xbox on Acquisitions
Phil Spencer addressed the game company's position on recent acquisitions after discussing Xbox prices. The Xbox CEO stated that the video game industry is a competitive one and that Xbox has no plans to slow down development, especially since its competitors like Tencent and Sony have been rapidly advancing in recent months with their own expansions.
To recall, the billion-dollar Microsoft-Activision Blizzard merger is now the subject of a new serious antitrust investigation by the United Kingdom market authority. The massive deal may have an impact on the market, according to the United Kingdom's Competition and Markets Authority (CMA). The acquisition in question sparked some debate about the multiplatform status of Call of Duty.
In other news, Phil Spencer's visit to the Tokyo Game Show is also intended to strengthen the video game console's position in Japan and Asia. The Xbox CEO mentioned joining forces with existing large Japanese game developers, such as its recent collaboration with Kojima Productions.
