Microsoft is significantly increasing Xbox prices.

In a statement released today, the company revealed plans to raise prices for Xbox consoles, controllers, headsets, and select games. The price adjustments for consoles and accessories take effect immediately as of May 1, while game prices will remain unchanged until the holiday season, when new first-party titles are expected to cost $79.99.

The price hikes apply globally, except for headsets, which will see increases only in the U.S. and Canada.

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Here are the updated U.S. prices for Xbox consoles and accessories:

Xbox Series S 512 - $379.99 (up from $299.99)Xbox Series S 1TB - $429.99 (up from $349.99)Xbox Series X Digital - $549.99 (up from $449.99)Xbox Series X - $599.99 (up from $499.99)Xbox Series X 2TB Galaxy Special Edition $729.99 (up from $599.99)Xbox Wireless Controller (Core) - $64.99Xbox Wireless Controller (Color) - $69.99Xbox Wireless Controller - Special Edition - $79.99Xbox Wireless Controller - Limited Edition - $89.99 (up from $79.99)Xbox Elite Wireless Controller Series 2 (Core) - $149.99 (up from $139.99)Xbox Elite Wireless Controller Series 2 (Full) - $199.99 (up from $179.99)Xbox Stereo Headset -$64.99Xbox Wireless Headset - $119.99 (up from $109.99)

Regional price changes can be viewed on the official Xbox announcement page here.

Microsoft provided IGN with a statement explaining the price adjustments:

“These changes are tough, but they were made after careful evaluation of market trends and rising development costs. Moving forward, we’re committed to delivering more gaming options across all screens while maintaining value for Xbox players.”

While it’s unclear which first-party titles will carry the $80 price tag, likely candidates include the next Call of Duty, the delayed Fable set for 2026, the Perfect Dark reboot, inXile’s Clockwork Revolution, Rare’s Everwild, recently reviewed by Microsoft gaming chief Phil Spencer, The Coalition’s Gears of War: E-Day, Hideo Kojima’s OD, or Undead Labs’ State of Decay 3. Double Fine, known for Psychonauts, is also developing a new title.

Microsoft has scheduled an Xbox Games Showcase 2025 and an The Outer Worlds 2 Direct for June, where more details are expected to emerge.

This marks the first price increase for the Xbox Series S since its 2020 launch, despite Microsoft’s 2022 commitment to hold prices steady when PlayStation raised PS5 prices. However, Xbox Series X prices increased globally in 2023, excluding the U.S., and Xbox Game Pass has seen multiple global price hikes.

While the scale of these increases is striking, Microsoft’s move aligns with industry trends. PlayStation implemented similar price hikes in the UK, Europe, Australia, and New Zealand last week, marking its second increase in three years.

The gaming industry has been gradually raising prices, with AAA games moving from $60 to $70 over the past five years. Nintendo recently set an $80 price for Switch 2 exclusive Mario Kart World and other Switch 2 Edition titles. The Switch 2, priced at $450, faced backlash from fans, though analysts noted the price reflects current economic realities.

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Nintendo’s pricing strategy was further complicated by new U.S. tariffs, which led to unchanged console prices but higher accessory costs. Analysts predict potential post-launch price hikes, and the Entertainment Software Association cautioned that the impact will extend beyond Nintendo:

“The timing of the Switch 2 reveal alongside President Trump’s tariff announcement was unfortunate. Video games are played on numerous devices—consoles, VR headsets, smartphones, and PCs. Focusing solely on the Switch underestimates the issue. Tariffs will affect the entire industry, including American companies reliant on imported components for consoles and games.”

Gaming is becoming a costly hobby, no matter the platform.