Microsoft will not increase the price of the Xbox Series S and X

Keep in mind that both statements aren't too different from what Sony said earlier this year when it didn't flat out deny a price change for the PS5. Although in the case of Nintendo, the Japanese company does have a creative way around price increases.

Instead of flat-out making their consoles more expensive, Nintendo will introduce an "upgraded" variant. For example, the Switch OLED had and still does have a retail price of $349.99. This represents a much more significant pricing change that Nintendo tried to sweeten up by making the base Switch 10-20% less expensive in the UK and Europe.

Most likely, both Nintendo and Microsoft are keeping an eye on how critics and audiences will respond to the more expensive PS5. The majority of the gaming industry like Sony and Activision Blizzard are starting to post lower numbers following the COVID-19 pandemic. Because of this, we can expect all gaming companies to look to keep their revenues up as people start to spend less time and money on video games.