Microsoft Corporation (NASDAQ:MSFT) Slashes Xbox One Price to $249

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The new price cut represents the cheapest deal for Xbox One yet

Microsoft Corporation (NASDAQ:MSFT) has announced this week that select Xbox One consoles will be available at $249 for a limited time as part of Summer Sale. The price cut applies to all 500GB versions of Xbox One including bundles like the white Quantum Break bundle, Gears of War: Ultimate Edition and the Name Your Game bundle.

This is the third price cut Microsoft has announced since E3 2016. The first price cut was announced before E3 2016 and it was effectively permanent with the introduction of Xbox One S. Microsoft further slashed the price by $20 shortly in a bid to clear inventory. The current price cut carries the same plan to clear out existing stock to make room for the new Xbox One S console which is scheduled to launch on August 2.

In the meantime, the new price of $249 presents a tempting opportunity for anyone willing to pick up an Xbox One this year. You basically get a free game with any 500GB bundle you pick for the lot. But some customers may just be uninterested in the current Xbox One. The new Xbox One S represents a refreshing change with a 40% slimmer chassis that is by far the biggest improvement over the existing console. The current Xbox One design has been disliked by some due to its big and bulky nature. The new console houses the power supply internally and adds features such as 4K support, High Dynamic Range (HDR) support and improved controller with Bluetooth functionality.

Xbox One has multiple first-party exclusives in the pipeline for 2016 such as Forza Horizon 3, ReCore and Gears of War 4. The price cut should help Microsoft attract potential buyers while also clearing out existing stock in the process.

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