Microsoft has confirmed at its E3 press conference that the Xbox One will cost $499 in North America or €499 in Europe and will be launched this November in 21 countries, a specific release date has not been announced.
The Xbox One will be available at launch in the following regions: United States, France, Netherlands, Canada, Germany, Switxerland, Mexico, Spain, Russia, Brazil, Italy, Sweden, Australia, Ireland, Norway, New Zealand, Belgium, Finland, United Kingdon, Austria and Denmark.
The console will cost £429 in the UK. As of yet, they have not revealed the price for Japan. Microsoft has said that there'll be a "day one edition" of the console which will contain an exclusive Day One achievement; premium packaging and decal. It's available to pre-order now.
Microsoft has not announced the price of games on the console but they have revealed that they are set to finally drop Microsoft Points with the launch of the system. Microsoft has also not yet confirmed the price of Xbox Live subscriptions for Xbox One.
As of yet, we don't know the price of the PS4. That information is likely to be revealed at Sony's press conference later today. Analyst Michael Pachter had predicted that the Xbox One would retail at below $400, he also said the PS4 will cost $349 – we'll see at Sony's media briefing if he was correct in at least one of his predictions.