In just over a week's time, Microsoft will launch its new Xbox One S, starting with the 2TB Launch Edition, priced at $399. It will be joined later this year by more affordable versions: a 1TB option will be available for $349, along with a 500GB model for $299.
Inevitably, this is leading to price reductions for the existing Xbox One, which originally launched at the end of November 2013. Today, Microsoft announced that the price of its 500GB Xbox One has now fallen to $249.
Officially, Microsoft is saying that the console will be available for $249 "for a limited time". But the last time it used that phrase to describe a discount on the Xbox One - when its price fell to $299 at the end of May - that "limited time" offer ended with Microsoft reducing its price even further; to $279 in mid-June.
The Xbox One S will be released on August 2, the same date on which Microsoft begins rolling out the Windows 10 Anniversary Update. That update will be made available for the Xbox One - but Microsoft has indicated that it won't arrive for the console until some time after that date.