New Delhi, June 13 -- The Xbox Series X already costs $650. That figure, which would have seemed implausible when Microsoft launched the console at $500 in 2020, may yet look cheap.

the window widely expected to see the arrival of "Project Helix," Xbox's next-generation console - memory prices are projected to reach five times what Xbox paid two years prior.

"While the entire industry is facing a components crisis, we believe we have been impacted more greatly than many of our peers due to the choices we made over the last half-decade," Sharma and Booty wrote to staff, in language that was simultaneously a warning and a reckoning.

The memo, titled "Next 100 Days: Xbox Reset," set in motion what is expected to be a significant restructu...