Xbox One confirmed for November launch, $500 price

Xbox One will launch in November 2013 for $500 or £430. Microsoft revealed the date and price for its next-gen console at its E3 press conference today.

The software and hardware giant made no mention of oft-rumored subsidized prices. Some reports indicated a lower price point would be available for buyers in exchange for an increased-price Xbox Live Gold subscription, much like its current programs for Xbox 360.

That doesn't mean Microsoft won't pursue a similar pricing scheme later, of course.

Stay tuned to GamesRadar for more news on Xbox One and PS4 as E3 unfolds.