Microsoft announced Wednesday that its next-generation console, the Xbox Series X, will cost buyers roughly $500 and be released on Nov. 10.
Players can pre-order the console online beginning Sept. 22.
The previous Xbox console, the Xbox One, originally sold for a slightly lower price, roughly $385. The Xbox Series X is reportedly packed with new hardware that will let players game faster and with more detail than the previous edition. By setting this price now, Microsoft could force competitor Sony into revising its pricing model for the upcoming PlayStation 6 console — which has been rumored to cost up to $600.