Microsoft has just finished their media blitz in L.A. and they have finally announced how much the Xbox One will cost

The next generation Xbox One will launch in November with the modest price tag of $499.

Ok, not modest. But consider yourself lucky you don't live in the UK where taxes will end up ballooning the cost of console to just over $600 US. Stay tuned for a full recap of games and reveals for later this afternoon from Microsoft's press event

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