Consumers shouldn't baulk at the $499/£429 Xbox One price because the system is offering thousands of dollars of value, Don Mattrick has told Bloomberg TV.

"It's a lower number than some of the analysts had forecast," said Microsoft's IEB president in relation to the launch price.

"We're over-delivering value against other choices I think consumers can get. Any modern product these days you look at it... $499 isn't a ridiculous price point.

"We're delivering thousands of dollars of value to people, so I think they're going to love it when they use it. We're really making the living room your centre of fun for your family," Mattrick said.

So in fact you'd actually be making money if you buy an Xbox One.

Source: Bloomberg via CVG