Xbox One will launch in the UK at £429, some £80 more than the £349 launch price of PS4, but Microsoft's corporate vice-president Phil Harrison has told The Telegraph that the firm is very happy with the price.

"We feel great about the value of Xbox One," he said. "It's a unique architecture, with Kinect and the power of the cloud. What we showed yesterday was the most incredible games line-up in any first few months of a platform launch, many of which are exclusive and all of which have advantages being on Xbox One. That's what's really going to drive value.

"We couldn't be happier with the price we're starting at."

Microsoft may be happy with the price, but consumers are likely think differently. £80 will cover the cost of almost two games, and in austere times every penny counts.

Source: The Telegraph