Xbox has confirmed price increases for consoles sold in the UK and Europe, with the cost of buying a new console skyrocketing. Microsoft executives announced the move in June, but the new price tags only came into effect over the weekend. As of August 1, 2026, the price of an Xbox Series X console with a disc drive and 1TB storage rose to £669.99, a £170 or 34% jump from the original RRP of £499.99. Xbox also confirmed that the 2TB storage model will be 'sunset'.
Digital version and Series S hikes
The digital version of the console, also with 1TB of storage, remains £50 cheaper than the disc drive Xbox Series X at £619.99. The most surprising aspect of the price rises, however, is arguably the hike for the Xbox Series S console. Gamers looking to buy a new 1TB Series S now have to pay more than the Series X cost at launch almost six years ago in November 2020. That model is now £519.99, instead of the original £349.99, a staggering 48.5% increase, while the 512GB storage version costs £429.99 - up from £299.99 (43.3%).
Reason for the increase
It follows the announcement made by Xbox chiefs in June that console prices in the US would rise by $100 for 512GB models and $150 for 1TB models. The fact that the price increase itself seems dependant on memory capacity backs up claims made by Xbox earlier this summer. In a statement on Xbox Wire on June 25, the company said: "Last October, we increased XBOX console price by $20-$70 in the U.S. We hoped another price increase would not be necessary, and we have spent the last several months working with suppliers on options."
"Unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027. The entire consumer electronics industry is struggling with the current components crisis, but the effects are particularly hard on consoles. Unlike phones, computers, speakers, and other consumer devices, consoles are typically not sold at a profit, but instead for less than they cost to make."
Fan reaction
The Xbox Series S now costs more than the Series X did at launch six years ago. Paying almost half as much as the original console RRP for a six-year-old device seems steep, even in the current climate where gaming is becoming an increasingly expensive hobby. A number of fans have raised concerns about being "priced out" of video games in reaction to the news.
Gamers on Reddit opened up about their astonishment at the move. One wrote: "I honestly can’t see anyone paying over £650 for an Xbox Series X this late into the console cycle now." Another agreed, saying: "£430 for a Series S is crazy." A third wrote: "Gaming might actually be cooked as a hobby."
One Redditor said they were "priced out" of anything new, adding: "It’s game pass till I can’t afford it and Black Friday level game discounts. I’ll hold on with my XSX as long as can but I think eventually I may have to just quit my favourite, decades long hobby. It’s really sad." Another added: "If you want to get into gaming and it costs an astronomical amount like this you are better off buying a Switch 2 and a used PS5."
