Microsoft Corp. (MSFT) has launched two new models Xbox gaming console. The consoles dubbed Xbox Series X and Xbox Series S will be going for $499.99 and $299.99 respectively.
The company says the Xbox Series X is the most powerful gaming console in the world. The lower priced Xbox Series S is already facing backlash from customers due to its lower specifications.
The Xbox Series S will come with a less storage capacity and it won’t be having advanced ray tracing graphics compared to its counterpart Xbox Series X.
This launch marks seven years since the company launched its first Xbox model and it’s also the first time Microsoft launched its gaming console globally on the same day.
The company said it had received its highest number of the Xbox consoles preorders worldwide across different markets.
The initial supply of preorders sold out faster than anticipated and the company said additional stock would be available during launching of the new consoles.
“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 Maurice Klaehne, an analyst at research firm Counterpoint.
Microsoft is on the race to compete with Sony which will be launching its latest gaming console Play Station 5 in the course of the week also. Currently, Sony’s Play Station enjoys a wider fan base and a larger range of exclusive gaming titles compared to Microsoft’s Xbox.