It’s been confirmed that Microsoft’s next-gen Xbox is coming to the market by early November in time for the holidays and the price is pegged at $ 499, or $ 299 with a monthly subscription fee of $ 10 for Xbox Live. The new Xbox is fitted with Windows 8 OS and a Blue-ray drive, and comes as an “always” internet-connected gaming console confirming previous rumors on that score. It’s also announced that a less expensive third-gen Xbox 360 will be outed at the same time and it’s codenamed “Stingray”.

It is highly unusual for the company to announce any of its latest wares particularly on the price and release date based on experience. The company seems to be completing its Windows 8 ecosystem consisting of the PCs, phones and tablets with the introduction of Xbox for both content and gaming experiences. Online consumers reacted to the high price with mixed feelings but since details are still sketchy for now, expectations could change as the date draws nearer.

For months now, the next-gen Xbox has been rumoured to come out with latest offerings and innovative features but Microsoft fails or refuses to confirm all rumors until this report by Paul Thurrott. This will be the most anticipated product launch of the company for this year.