This isn't the time, according to Xbox's CEO, to raise console prices

This isn't the time, according to Xbox's CEO, to raise console prices ...

After the recent PS5 price increase, Xbox CEO Phil Spencer was again asked about console prices. He believes right now isnt a good time to charge customers more for services, thus putting a shady shade on Sony.

The PS5 price increase was caused by a fluctuating exchange rate.

@XboxP3 discusses #Tencent, #JRPGs, and @discord, and why its not time to follow $SONYs upward price trend. #Xbox #PlayStation pic.twitter.com/BCIY0wE8Gt

Squawk Asia (@asiasquawkbox) will be held on September 16, 2022.

Spencer said in a meeting with CNBC that we do not think it is the right move for us at this point to increase prices on our consoles, even if it means making a loss. I dont think we can ever say on anything that we will never do something, but when we look at our consoles today, we think value is extremely important.

Spencer said that a large percentage of new Xbox players are coming in via the Xbox Series S, its budget-friendly digital current-gen console. Microsoft certainly does not want to impede that progress and wants to continue the momentum, particularly after the Xbox One's relatively poor performance in the market.

Microsoft has the advantage of being based in the United States. Sony, on the other hand, has suffered from fluctuating foreign exchange rates. As a result, the company increased the PS5 price pretty much everywhere except the United States, where it is not yet experiencing the pinch. According to analysts, any impact on sales will be minimal.