Xbox 1 Price and Release Date: How Much Can You Expect to Pay For New Xbox?

Update: The new Xbox will be released in November.

Update 2: ... And will cost $500.

The new Xbox 1 is here. And it looks truly epic.

But when would you be able to actually buy the new Xbox? Expect Microsoft to announce the availability of XBox 1 in time for the holiday season — when it will be competing with PS4 (which now looks like a Super Nintendo in comparison), which is also officially due out this holiday season. 

It is rumored that the next-generation Xbox 1 device will come with an AMD system-on-a-chip codenamed “Jaguar,” a user interface similar to Windows 8 and a price point set between $300 and $500.

The PS4, on the other hand, will reportedly be costing in the $400+ range, a price which would be cheaper than its PS3 predecessor on launch, a point that is absolutely critical. The PS3 lost a lot of early momentum because of its average game library and a very high price drove some casual gamers toward the Wii and Xbox.

A holiday price battle could be at the center of the PS4-Xbox 1 console war, a fight that plays well into the hands of consumers.

What else can you expect from the new Xbox? 

The Xbox 1 has USB 3.0, Wi-Fi Direct, Blu-ray, 802.11n, HDMI in/out. The system is "connected and ready" with 5 billion transistors and 8GB of RAM. New connect sensor with every Xbox 1. The console is completely redesigned.

From there we move on to the Kinect: It has a 1080p wide-angle camera. It can detect slight rotations in your wrist or shoulder.

The Xbox 1 was described at the event as a "modern, powerful box."

The new controller has 40 design changes. New ergonomics, new "dynamic impulse triggers" that let you put feedback in the triggers themselves. There's also a new D-pad.

Read more about the Xbox 1 on this live blog.

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