Microsoft is preparing a next-generation Xbox console for the 2028 holiday season that could carry a substantially higher price tag, according to a Fortune report citing people familiar with the matter. The company has not confirmed a release date.
Development timeline and leadership
Fortune reports the schedule places the console launch in the holiday window at the end of 2028. The story is framed around Asha Sharma, who succeeded Phil Spencer in February of last year, and her plans to restructure Microsofts gaming business. The company is also said to be targeting the 2027 holiday season for a next-generation handheld device.
Project Helix hardware work in Building 87
The next console is being developed under the codename Project Helix. Fortune says Sharma and Microsofts design team are evaluating prototypes and potential hardware partners in a confidential lab inside Building 87. Sources told Fortune that engineering deadlines for Project Helix have been moved up by several months, increasing pressure on development teams.
The report also notes internal disagreements between Windows and Xbox teams over the software platform that would run on future hardware.
Estimated pricing and business context
Fortunes article cites internal Microsoft estimates that Project Helix could retail for between $1,200 and $1,800, unless the company makes design changes to lower the final price. Fortune attributes this range to Microsofts internal projections rather than an official price announcement.
The report appears amid concerns about Xboxs declining console market share and broader pressure to improve profitability. According to Fortune, Sharma aims to address those challenges by refocusing on hardware, major game franchises, and a review of the Game Pass service structure.
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