Microsoft has announced a global price hike for Xbox consoles, citing rising storage and memory costs. Effective August 1, the price of the Xbox Series S 512 GB will increase from $399 (around ₹37,600) to $499 (around ₹47,000). The price of the 1 TB version will rise from $449 (around ₹42,300) to $599 (around ₹56,500).