Microsoft’s head of gaming, Phil Spencer, said Thursday that the company currently has no plans to raise the prices of its Xbox consoles, citing the challenging economic conditions facing many customers.
Company stance: no immediate price hikes
In an interview with CNBC on October 15, Spencer said the company does not believe raising console prices is the right move while many customers face economic uncertainty. “At a time when our customers are more challenged economically and more uncertain than ever, we don’t think it’s the right action to increase prices on our consoles,” he said.
Series S emphasized as affordable entry point
Spencer highlighted the importance of the Xbox Series S as Microsoft’s lower-cost console and credited it with attracting a large share of new players. He said more than half of the new players Microsoft is finding come via the Series S, underscoring the device’s role in the company’s strategy.
Future pricing remains under review
Although Spencer ruled out immediate price increases, he did not rule out changes further down the line. “We’re always evaluating our business going forward, so I think you can never say you’ll never do anything,” he said, while reiterating that the company currently values keeping console prices accessible.
Context: Sony raised PlayStation 5 prices
The topic arose after Sony announced a global price increase for the PlayStation 5 last month. Sony’s CEO, Jim Ryan, described that decision as difficult and attributed it to “unfavorable economic conditions,” including high inflation and adverse currency fluctuations.
