Xbox Series X will cost $499, launch on November 10

(Image credit: Microsoft)

Microsoft confirmed today that the Xbox Series X will cost $499 when it launches on November 10.

The company tweeted the price and release date for the Xbox Series X a day after unveiling the cheaper Xbox Series S. Pre-orders for the two consoles will begin on September 22.

See the best PC games and best Xbox Game Pass PC games to play now
Check out the Xbox Series X games and PS5 games confirmed so far
This is what we know about the Xbox Series X and PS5 so far

This is the tweet...Xbox Series X: $499 (ERP)Xbox Series S: $299 (ERP)Release date: November 10Pre-order starts September 22: https://t.co/Dz5bRsAuwQ | #PowerYourDreams pic.twitter.com/MadZl4OOKJSeptember 9, 2020

We expected the Series X to cost somewhere between $400 and $600, so the $499 price isn't a surprise. Xbox confirmed yesterday that the Xbox Series S would cost $399, so we now know the Xbox Series X is $200 more expensive.

Sony has yet to announce the release date and price of the PS5, although rumors suggest we could get answers later this week.

Xbox Series X payment plan

Microsoft established a payment plan for people who can't just throw down $499 at the sight of a new console. The plan offers you to pay $34.99 over the course of 24 months, which is way more than $499.

It'll come to $840 to be specific, but it comes with Xbox All Access. If you're calculating how much Xbox Game Pass Ultimate costs over the course of 24 months, it's $360, which adds up to a total of $860, so technically, the payment plan is a cheaper alternative.

Phillip Tracy

Phillip Tracy is the assistant managing editor at Laptop Mag where he reviews laptops, phones and other gadgets while covering the latest industry news. After graduating with a journalism degree from the University of Texas at Austin, Phillip became a tech reporter at the Daily Dot. There, he wrote reviews for a range of gadgets and covered everything from social media trends to cybersecurity. Prior to that, he wrote for RCR Wireless News covering 5G and IoT. When he's not tinkering with devices, you can find Phillip playing video games, reading, traveling or watching soccer.