Best Buy Co. Inc. this week price cut Microsoft Corp.’s Xbox One hardware to under $280 in a new retail initiative.

This week, the Xbox One sells at $279.99, $20 off the $299.99 MSRP. Discounted SKUs include the Xbox One Name Your Game Bundle and the Xbox One Quantum Break Bundle.

Microsoft in Aug. will release the Xbox One S.

The Xbox One S is a console 40 percent smaller than the current Xbox One and includes a 2TB hard drive, 4K Ultra HD video, High Dynamic Range, a streamlined controller and vertical stand.

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