Microsoft has increased the price of Xbox consoles worldwide, citing rising memory and storage chip costs. Its premium Series X console with a disc drive will now cost £670, when it previously retailed for £500. Meanwhile a baseline Xbox Series S console now costs £430 - a roughly 43% increase on its previous £300 price tag. Microsoft said in June it had "hoped another price increase would not be necessary", but blamed the rising cost of console storage and memory for needing to raise prices on consumers. Both likewise pointed to mounting costs for the hardware and storage components needed to power their devices.