United Kingdom, May 2 -- Xbox has announced it will be increasing the price of its hardware and some upcoming first-party games.

The company confirmed it would be making Xbox Series X|S consoles and accessories more expensive in the U.S., Canada, UK and mainland Europe due to "market conditions and the rising cost of development".

Going foward, an Xbox Series X will retail for $599.99, while an Xbox Series S 1TB will cost $379.99 in the U.S. - up from $499.99 and $299.99, respectively.

Meanwhile, Microsoft's most expensive offering, the Xbox Series X 2TB Galaxy Special Edition, is now priced at $729.99 in place of the previous $599.99 price tag, with the Core and Color Xbox Wireless Controllers now set to cost $64.99 and $69.99, respec...