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Phil Spencer reiterates there are no plans for a price hike on Xbox Series consoles

That's a relief.

Sony may have upped the price of PS5 in select markets, but Microsoft doesn't plan to follow suit.

Speaking in a Squak Box segement with CNBS Asia, Xbox boss Phil Spencer confirmed Microsoft has no plans to increase the price of its Xbox Series consoles.

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"We are always evaluating our business going forward, so I don't think we can say on everything that we will never do something, Spencer said around the 3:45 mark. "But when we look at our consoles today, we think value is increibly inportant. We love the position of Series S in the market which is our lower cost console, half of our news players are coming in with Series S.

"I can definitley say we have no plans to increase the price of our conosles. We think that in a time when our customers are more equinomically challenged and uncertain that ever, it's not the right move for us at this point to be raising prices on our consoles."

Specer's comment reiterates that of a Microsoft spokesperson who stated in late August the company has no plans to increase the price of its consoles.

Sony announced last month it was raising the price of PS5 across a range of markets due to high inflation rates and adverse currency trends. The United States is the only market that didn't see a price hike - at least not yet.

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