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teigaga said:

I don't think MS is making a loss with One S but that they would be making more profit without the 4k Blu-ray drive ;)

Perhaps, but there's not much in it. The drive is a $15.50 premium over the drive in the old model (source below). I guess Sony have to live in the here and now, but blu-ray drives used to be wildly more expensive than they are now, I expect it won't make too much difference to profit per console to Microsoft before long.

http://www.businesswire.com/news/home/20160805005103/en/IHS-Markit-Teardown-Analysis-Microsoft%E2%80%99s-Xbox-Brings