Xbox One now $249 after third price cut in two months

Xbox One is more affordable than ever.

Microsoft has cut the price of the entry-level 500Gb Xbox One to $249 in the US. It's available in several different bundles at this price point, with some retailers offering further discounts.

This is only the latest in a series of price cuts. At the end of May, the Xbox One RRP fell from $349 to $299. In mid-June, the price of Xbox One fell a further $20 to $279.

Although RRPs are treated differently in the UK, similar cuts brought the UK price of Xbox One down to as little as £209.

These repeated price cuts probably won't do much to shift Sony's dominance this console generation (the PS4 is still $349 and selling like hotcakes), but we all know why the Xbox One is going cheap: Microsoft is running through stock ahead of the August launch of the Xbox One S.

That doesn't necessarily mean you shouldn't grab the Xbox One while it's so affordable; to help you make up your mind, here's everything we know about the Xbox One S.