Microsoft's Don Mattrick: '$499 isn't a ridiculous price' for the Xbox One

Sitting among the crowed at Microsof't E3 press conference, you could here the gasps when Microsoft announced the $499 price tag for the Xbox One. In the grand scheme of things, it's only $100 more than the PS4 (likely due to the Kinect), but even when you compare it to other electronics, it's not too unreasonable. And that's exactly the justification Microsoft Xbox boss Don Mattrick is using when defending the Xbox One's price.

"It's a lower number than some of the analysts had forecasted," Mattrick said on Bloomberg TV. For the record, esteemed video game analyst Michael Pachter had projected a $399 price for the Xbox One.

"We're over-delivering value against other choices I think consumers can get," Mattrick continued. "Any modern product these days you look at it [and] $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."

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