Bad news from Microsoft for gamers: Price hikes are on the way

Microsoft, one of the most important names in the gaming world, will soon make significant price increases for its popular game console and game services.

Tech titan Microsoft recently revealed plans to hike the prices of its flagship gaming console, the Xbox Series X, and its subscription gaming service, the Xbox Game Pass.

The price tag for the Xbox Series X will experience a bump of $50, ascending from its current $499 to $549. Notably, the cost of the Xbox Series S will remain untouched across all markets. Microsoft recently rolled out a new black variant of the Xbox Series S, equipped with 1TB storage, priced at $349.

Bad news from Microsoft for gamers: Price hikes are on the way

Simultaneously, the gaming behemoth is raising the bar on its Xbox Game Pass monthly charges. The standard plan will climb from $10 to $12, while the Ultimate plan will surge from $15 to $18 monthly. Microsoft explained the price increment as a requisite for further investments in delivering the "best gaming experiences". The company also intends to provide multiple saving options to Xbox Game Pass customers, such as annual subscriptions and family plans.

The pricing adjustment is slated to be enforced from July 6 for new clients, while existing monthly subscribers will only be impacted from August 13. Meanwhile, customers with annual Xbox Game Pass subscriptions will remain unaffected until their renewal period.

Microsoft's move towards elevated pricing mirrors the market expectations that followed Sony's similar strategy with its PlayStation 5 last year.