The standard Xbox One is now priced from $249 while supplies last. The Xbox One price cut applies to any 500GB Xbox One Console including the Gears of War: Ultimate Edition bundle, the Special Edition Quantum Break bundle with white console and the Name your Game bundle, which allows you to choose from Forza Motorsport 6, Rise of the Tomb Raider, Gears of War: Ultimate Edition and Rare Replay.
The price cut comes with the new, smaller Xbox One S launching August 2 with the 2TB launch edition costing $399.99. It is likely that Microsoft is trying to get rid of all its outstanding Xbox One inventory so that the Xbox One S can replace it, which means this price cut will last while there are still consoles available.
The new Xbox One S is 4K capable and measures 40 percent smaller than the current Xbox One. It also has a built-in power supply while Microsoft has shifted one of the three USB ports and the pairing button to the front of the console. It is the first and only console that allows its users to watch Blu-Ray movies and stream video in 4K Ultra HD with HDR and also includes an updated Xbox Wireless Controller with textured grip, improved wireless signal and added Bluetooth support.
Later on, Microsoft will release a 500GB version of the Xbox One S priced at $299.99 while the 1TB model will start from $349.99.