Apple sells off despite Street-beating earnings, iPhone sales >>> READ MORE

E3 Audience Gags Over Xbox One Price Reveal

Sony is pricing its Playstation 4 console $100 less


Xbox_Console_RHS78_TransBG_RGB_2013On Monday, Microsoft (MSFT) announced the price and launch date of next-generation gaming console, surprising analysts and gamers alike.

In a presentation at the annual E3 conference in Los Angeles, Microsoft said the Xbox One would hit store shelves in November. Gamers will have to shell out $499 to own the new console, which combines gaming and entertainment functions, The Daily Camera noted.

What If Microsoft’s Xbox One Is a Hit?
What If Microsoft’s Xbox One Is a Hit?

That’s a lot more than the current Xbox 360, which retails for about $300.

Video game rival Sony (SNE) wasted no time in pointing out that its new Playstation 4 console is priced at just $400.

Microsoft unveiled the Xbox One last month. The new console allows users to move seamlessly between gaming, television and online entertainment.

However, the machine’s always-on Internet connection, coupled with its array of microphones, IR cameras and motion detectors has provoked some alarm among privacy advocates.

Shares of Microsoft fell about 1% in Tuesday midday trading.

Article printed from InvestorPlace Media,

©2016 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.