If you've had your sights on a new Xbox console, I strongly recommend you get one as soon as possible, because in just over a month, they're about to get much, much pricier.

On Thursday afternoon this week, Microsoft announced that its Xbox Series X|S consoles are getting a price hike come August 1, and this one is steep. Specifically, the cost of all 512GB models of these systems is climbing by $100, while 1TB units are skyrocketing an eye-watering $150. Microsoft is also sunsetting its 2TB Xbox Series X entirely.

I've included what the MSRP of Xbox Series X|S consoles will be after these price increases go into effect in the table below:

As you can see, we'll soon be living in a sobering reality in which the Xbox Series S — once heralded by many as an affordable and low-cost option for enjoying modern gaming on a budget — costs as much as the Xbox Series X did at launch, and in which the Series X has hit the $800 mark. Awful.

It's important to note that these price hikes are coming after Microsoft and Xbox already rose the cost of its consoles twice last year, with one increase in Spring 2025 and another that came in October.

Tariffs were largely responsible for those, though this time around, the ongoing RAM and storage crisis that's being perpetuated by the tech industry's all-in bet on AI is to blame.

AI's insatiable hunger for silicon has brought on severe worldwide memory and storage shortages, driving up component costs and making just about every electronic device on the market more expensive as a result. Tragically, the problem is projected to get even worse next year, which may mean additional price hikes are on the horizon.

"Unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027," Xbox lamented in its notice about new prices. "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."

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Brendan Lowry is a Windows Central writer and Oakland University graduate with a burning passion for video games, of which he's been an avid fan since childhood. He's been writing for Team WC since the summer of 2017, and you'll find him doing news, editorials, reviews, and general coverage on everything gaming, Xbox, and Windows PC. His favorite game of all time is probably NieR: Automata, though Elden Ring, Fallout: New Vegas, and Team Fortress 2 are in the running, too. When he's not writing or gaming, there's a good chance he's either watching an interesting new movie or TV show or actually going outside for once. Follow him on X (Twitter).