Microsoft Corporation (NASDAQ:MSFT) has been disappointed with the sales of its Xbox One and is looking to boost its sales over that of the PlayStation 4, its closest competitor. Sony Corp (ADR) has enjoyed the sales of its PlayStation 4 over that of the Xbox One, yet may face some issues in the face of Microsoft’s new trade-in agreement.
Microsoft has introduced a new and restricted trade-in deal, giving a discount of up to $175 on Xbox One purchases. Gamers are able to exchange their old Xbox 360 or PlayStation 3 devices for the Xbox One at Best Buy Co Inc (NYSE:BBY) in order to receive a $100 gift card.
There are two options for customers. One is to give away an Xbox 360 or PlayStation 3 and receive a discount of $75 on a new Xbox One. On the other hand, a newer type of the Xbox 360, with 250GB memory, or a PlayStation Slim can be traded in to receive an added $100 discount card.
Gamers must ensure that their devices are still in working order and not damaged in any way. Further, the device must have the requisite working power units and a valid warranty. The trade-in agreement is only in effect until June 20, specifically at Best Buy Stores, limited to one customer per console, and not applicable to other trade-in offers.
Microsoft Corporation has been attempting to increase sales for the Xbox One, underperforming Sony’s PlayStation 4 since November 2013, the launch date. Yet, the company cut the price on the Xbox One before the holiday season last year, and the trade-in deal has garnered further excitement among gamers.
Microsoft is also launching an improved 1TB Xbox One with a Halo bundle for $399; recently, it debuted an Xbox One Elite controller for zealous gamers.