Price increases for video game consoles, once relatively unorthodox, are becoming increasingly common as unstable market conditions affect the cost of producing the most popular gaming hardware. After the first price increase for the PS5, it is now the turn of the Xbox Series X to see its price raised for the first time in Japan.

Microsoft has confirmed that the retail price of the Xbox Series X will increase from 54,978 yen ($421) to 59,978 yen ($460) (via Gematsu (opens in new tab)). Its sibling, the Xbox Series S, will also see its price increase from 32,278 yen ($247) to 37,978 yen ($291). In a statement, Microsoft said, "After carefully evaluating the market situation in Japan, we have decided to change the suggested retail price of Xbox consoles in Japan," and also acknowledged that it was a "difficult decision."

Fortunately, for now, this price increase is only for Japan, and the existing retail price of $499/£449 will be maintained in the US and UK, respectively. However, this price increase follows a worrisome trend in which several high-tech companies are raising the prices of their best-selling products.

Last August, Sony raised the price of the PS5 in several regions, including the UK and Europe, and a month later Meta raised the price of its Quest 2 VR headset by $100. None of these products have been reduced to their original retail price in these markets in the past six months.

At the time of these price increases, Xbox's Phil Spencer assured gamers that Microsoft planned to maintain prices through the holiday season, but warned that "at some point, we will have to raise prices on some things." While key regions in the U.S. and Europe have been spared, it is certainly possible that the Xbox Series X and Xbox Series S will see further price increases in the coming months.

If you are eyeing the Xbox Series X (or Series S), this may be the perfect time to make a purchase before this price hike goes any further. If you buy now, you will have a great console that we described in our review of the Xbox Series X as "the pinnacle of Microsoft's approach to gaming. Over the past two years, we have been continually impressed with its performance and fantastic backward compatibility features.

Curiously, the Xbox Series S is still priced higher in Japan, despite repeated discounts during the year-end sales season. Nevertheless, a permanent price cut seems more likely for this entry-level Xbox console than a worldwide price increase. Even at its current full price of $299, it is still quite a bargain, but it is not the most future-proof machine.

Aside from avoiding the possibility of future price increases, now is also a good time to invest in a new Xbox console, as 2023 is likely to be a big year for Xbox Game Pass. The subscription service is considered one of the best deals in gaming and recently made headlines thanks to the surprise delivery of the console-exclusive action game "Hi-Fi Rush. Later this year, several blockbuster titles will be offered on day one, including "Starfield," "Redfall," and the new "Forza Motorsport."