Microsoft to launch smaller version of its upcoming next-gen console for $299

Microsoft confirmed Tuesday that it is set to launch a smaller, cheaper version of its upcoming next-generation console.

The company is currently gearing up for the release of its Xbox Series X device later this year, promising powerful specs and improved graphics quality in a bid to convince gamers to part with their cash for new gaming hardware.

It will go head-to-head with Sony’s PlayStation 5, or PS5, with both consoles expected to hit shelves ahead of the holidays. You can check out a breakdown of the main differences between the Series X and PS5 here.

Microsoft teased the new device, called the Xbox Series S, in a tweet Tuesday. It said the Xbox Series S would be the “smallest Xbox ever” and cost $299. The firm stopped short of providing a release date or any specs. For context, Microsoft has said the Xbox Series X will be four times more powerful than its predecessor, the Xbox One X.

The company has been plagued by leaks about the more affordable next-gen machine. On Monday, Windows Central — a publication that closely follows Microsoft news — reported that the main Xbox Series X console would cost $499, while the Xbox Series S would come with a $299 price tag. 

Citing sources, Windows Central said that both consoles would have monthly financing options. Consumers would be able to buy an Xbox Series X for $35 per month or the Xbox Series S with a $25 a month plan, Windows Central reported. Microsoft said it had nothing further to share beyond its tweets Tuesday.

It’s the first time either of the major console manufacturers have disclosed any pricing details for their next-gen devices. Sony unveiled the PS5 for the first time in June, but didn’t reveal any pricing or release date information. According to Windows Central, both of Microsoft’s new consoles are set to launch on Nov. 10.