UK retailer to cut Xbox One to £299 this week

Online retailer GameSeek has announced plans to temporarily drop the price of an Xbox One console with FIFA 14 to just £299.99 – £100 less than the standard retail price.

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XiSasukeUchiha1558d ago

Maybe all time would help increase Xbox ONE sales

colonel1791558d ago

In Mexico, the Xbox One in Walmart, was discounted from MXN$8,499 ($640) to MXN$5,990 ($450). They told me the price cut is because they were overstocked.

UltimateMaster1557d ago

I smell desperation... or is it perspiration?

Charybdis1558d ago (Edited 1558d ago )

damn lucky Uk

edit: for those in the uk looking for this particular temporary promotion xbox 1 console/games and similar ps4 games deals. (infamous has no pricing yet)

Septic1558d ago (Edited 1558d ago )

Retailers must be struggling to get it off the shelves if they're reducing it by £100 already along with a free copy of FIFA. Quite worrying really (even though I think its the right price for console).

[EDIT]- Ah wait, this is part of some CO-buying incentive. The console is still £430. My mate just tried to buy one lol.

This isn't a straight up price cut. Just beware.

mantisimo1558d ago

AbsolutelySeptic .

This isn't a retailer at all.

Very misleading article.

Who let this through?

bleedsoe9mm1558d ago

@mantisimo its a negative story about the xb1 it was probably auto approved

Mr Pumblechook1558d ago

Dodgy click bait headline written to exploit N4G. The price has not been cut by the retailer to £299.

What actually is the story is that one retailer is offering a group buying scheme that enables a discount enabling an Xbox One buying price that might be £299.

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exnoob1558d ago

That's a huge price drop.

ZeroX98761558d ago

it's weird seeing MS forced to lower their console price so early.

exnoob1558d ago (Edited 1558d ago )

If I bought the console day one and then saw this, I would be very.......
But with that being said, this a huge incentive for people that are waiting to purchase the XBone and I hope they do enjoy.

Godmars2901558d ago (Edited 1558d ago )

But this isn't MS doing it. Not directly if at all.

Though it should speak loudly about how badly the XB1 is doing in the UK that a retailer is willing to do something like this.

Eonjay1558d ago

Wow. In USD thats a $333 price drop within the last 3 weeks. That is crazy.

The Meerkat1558d ago

It's not unexpected.

I said 6 months ago that the time to buy an XB1 will be around E3 when they announce their huge price drop.

ThanatosDMC1558d ago

I hope people who bought the device a week or so ago can get some money back.

Kiwi661558d ago

Didn't you read the article its not MS dropping the price its a retailer

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press-start1558d ago (Edited 1558d ago )

yh that's crazy and they give you FIFA14 to doe am not interested in a xbone for anyone that is that to me is a GREAT DEAL and should be snatched up as quick as possible.

HurtfulTimez1558d ago

funny thing is can get them for £250 - and still havent purchased one yet too many issues such as storage and not enough games i like for it yet so holding out until it appeals to me a bit more.

solidworm1558d ago

Cant give these things away lol

thehitman1558d ago

Its funny w/ all the price drops in UK that we see articles about TF increasing sales there lol. I bet they are soo backed up in supply atm that they have to just give these things away basically. MS are probably taking a HUGE hit on their profits because of this.

Also because the xb1 was selling so badly at the start they will probably get a temporary boost for 1 month over PS4 since they are probably not only selling current stock loads but previous stock loads at once. Also since xb1 is not offered in many other EU countries a lot of exporting is most likely going on inflating sales in that country. Will be interesting to see April numbers when things normalize.

Manic20141558d ago

Actually the retailers are buying the supply at the same price it was being given at launch. the only difference is retailer are selling at a loss if compared to how much they bought it for but then they make a profit after they claim 20% on the VAT, so in the end retailers will still be making a profit, with the price of £299, retailers will be making a profit around £8 per unit after the VAT claim. So in the end MS are still making how much they projected before launch,

alan0011557d ago

VAT doesnt count towards profitability,
VAT on input and output are shown on the balance sheet and not on the profit and loss account.

Manic20141557d ago

Actually for some companies they do. it's really a last resort if they want to sell the merchandise at a low price. It would not show in the profit/loss account, but it will account to profitability. That's how my family business increase profitability during slow quarters.

alan0011557d ago

sorry if Im being thick but I can't see how this can work on VAT registered businesses eg MS and Gameseek. Both examples would record VAT transactions on their balance sheets and so it wont affect their profits/losses.

Manic20141557d ago

Well, the retailer also has to pay VAT for the taxable goods, but the VAT claim on the products covers that and the discounted price the sell the system at. It kind of confusing but for consumer electronics from manufacturers abroad, the business has to pay 5% of the VAT and they can claim 20% back on the full face value of the product. It's kinda complicated but its how some business in Europe approach a profitable account. btw MS do not sell the products directly to the retailer, the retailer buys it from a third party such as

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