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shikamaru317 said:

Delaying the console is completely unnecessary in this case. 

1. Consoles with a Holiday season launch sell great even with no big exclusives, due to casuals buying to play 3rd parties. Also, the most hardcore fans of a particular console maker buy at launch regardless of all other factors. They just need to get Halo out in early 2021 to prevent a long sales slump. 

Then why make exclusives for console launches if it doesn't affect the sales?

2. Xbox Series still has 3 console exclusives for launch, CrossFireX, Gears Tactics, and The Medium. They also have the next gen version of Yakuza 7 as a timed exclusive, on PS5 people will only be able to play the PS4 version with lesser graphics through backwards compatibility at launch. They also have next-gen graphical updates for several of their current gen titles planned for launch, including Ori 2, Gears 5, Forza Horizon 4, and The Outer Worlds. And they can bundle a 1 month Gamepass code with all Series X and S consoles, which will allow people to play all of the above games for free during that 1 month (except for the CrossFireX campaign, which isn't on Gamepass at release, just the multiplayer). 

Come on! "Oh, yeah, people will surely fork out 400-500$ for new hardware to play some games they already played with slightly better graphics." New games count. They are what draw people to new hardware. Updating older games is icing on the cake.

Why not wait? What do I lose by waiting a little to buy a Series X? Especially in pandemic times where budgets are tight. MS said themselves they would be supporting the Xbox One for several years. 

3. MS still has marketing deals for several big 3rd party games that release this year, including Madden, AC Valhalla, and Cyberpunk, which they can run ads for during the Holiday season that only mention the Xbox version. They might even still have time to get a Series X bundle ready for one of those games. 

4. They can still price Series X and Series S well, which will help them sell. If they can pull off the rumored $250 on Series S and $450 on Series X, they will definitely have a good Holiday season sales wise, especially on Series S, which will fly off the shelves at $250. 

Everyone, and I mean everyone, knows that those games are multi platform.

Pricing is their only option. And that will hurt. You might think MS has tons of money so they don't care, but a company always looks at where it should put its money for most return.