Microsoft confirms new, budget Xbox Series S that will sell for $299

Microsoft has confirmed that its upcoming next-generation Xbox console will have a cheaper option for price-conscious consumers.

In a tweet sent at 3 a.m. Tuesday, the Seattle-based tech giant unveiled a photo of the mini version of its new Xbox Series S console, which it said will sell for just $299.

The console, which Microsoft called its “smallest Xbox ever,” will be launched alongside Microsoft’s larger Xbox Series S. The company did not detail what tradeoffs consumers will be making if they go with the $299 console — the same price as Nintendo’s mega-popular Switch — instead of its $499 big brother, but a report from Microsoft blog Windows Central suggests it likely has scaled back processing power.

The price tag matches the current MSRP of the Xbox One, which was originally released in 2013.

Both Xbox and Sony’s PlayStation 5 will be hitting stores this winter in time for the holiday shopping season — one of the most important for the video game industry.

Sony has not yet given any pricing information for its new PlayStation, but it will likely not compete with the $299 Xbox.

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