MICROSOFT LAUNCHES XBOX CONSOLES TO VIE WITH SONY PRODUCTS

Microsoft Corp. launched two models of its Xbox gaming console, seven years after the debut of the previous version, to capture a pandemic-driven boom in consumer spending on games, Suphanta Mukherjee and Sam Nussey reported for Reuters.

The Xbox Series X - which the company has described as the “world’s most powerful console” - will retail for $499.99 (379.1 pounds) and a lower-priced Xbox Series S will sell for $299.99. The strategy offers consumers greater choice but the compact Series S faces criticism for being less powerful than the Series X, with less storage capacity and lacking advanced “ray tracing” graphics for titles like Capcom’s “Devil May Cry 5.”

Xbox will compete with Sony Corp's 6758.T PlayStation 5, scheduled to launch on Thursday. PS5 is widely viewed as leading the console race due to its bigger fan base and a broader range of exclusive gaming titles available at launch.

This was the first time Microsoft launched its gaming console globally on the same day and the company said it has seen the highest preorders for Xbox consoles across various markets. While the initial supply of preorders sold out fast, Microsoft had said additional stocks would be available at launch. “There were some early supply chain issues in Q1/Q2 due to Chinese manufacturing plants shutting down due to COVID, but these have since been operating normally again,” said analyst Maurice Klaehne at research firm Counterpoint.