New 'Xbox One' getting more expensive

REDMOND, Wash -- Microsoft revealed the prices of two accessories for its new Xbox One. The console, which is slated to launch later this year for $499.99, will come with one controller.

According to Microsoft, current Xbox controllers will not be compatible with the new console. That means you'll have to cough up $59.99 apiece if you want to play with friends. The Xbox One's controller with the Play and Charge Kit will set customers back $79.99. A wireless headset for the new gaming console will cost $24.99.

Microsoft has promised that the new device will deliver vastly improved visuals, as well as a host of entertainment features, to justify the price.

Sony's new Playstation 4 is the closest competitor in terms of power and graphics to the Xbox One. It will cost $399.99 when it launches later this year. Additional controllers will also cost $59.99.