Phil Spencer has warned that Microsoft will likely have to raise the cost of the Xbox Series X|S - as it is losing money.
The video gaming giant is said to be losing £173 ($200) per console, and £87 ($100) for each Series X, as per CNBC.
Spencer has been dropping hints about price hikes.
Last week, he said: “We’ve held price on our console, we’ve held price on games and our subscription. I don’t think we’ll be able to do that forever.
“I do think at some point we’ll have to raise some prices on certain things, but going into this holiday we thought it was really important that we maintain the prices that we have.”
Phil Spencer has warned that Microsoft will likely have to raise the cost of the Xbox Series X|S - as it is losing money.
The video gaming giant is said to be losing £173 ($200) per console, and £87 ($100) for each Series X, as per CNBC.
Spencer has been dropping hints about price hikes.
Last week, he said: “We’ve held price on our console, we’ve held price on games and our subscription. I don’t think we’ll be able to do that forever.
“I do think at some point we’ll have to raise some prices on certain things, but going into this holiday we thought it was really important that we maintain the prices that we have.”
In the summer, Spencer had said that it had no plans to up the price of their consoles amid these "economically challenged" times.
The executive insisted it would be the wrong move for them to make amid a global cost of living crisis.
He told the same publication: “I can definitely say we have no plans today to raise the price of our consoles.
“We think 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 be raising prices on our console.”
However, Spencer added that the firm is "always evaluating” business.
At present, Xbox Series X retails for $499, while the digital Xbox Series S costs $299.
By contrast, Sony recently upped the price tag of their PS5 in a number of territories - not including the US - due to “high global inflation rates.
