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500 GB Xbox One price cut again, to $249, as Xbox One S nears launch

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Price drop in effect today and 'for a limited time.'

Beginning today, the price of a 500 GB Xbox One is $249, Xbox Live's Major Nelson announced, as Microsoft looks to clear stock for the arrival of the new Xbox One S configurations.

The deal includes a choice of four games: Forza Motorsport 6, Rise of the Tomb Raider, Gears of War: Ultimate Edition, or Rare Replay.

It's the third time since May that Microsoft has cut the price of its baseline Xbox One model.

The Xbox One S goes on shelves Aug. 2 in North America, Europe and Australia beginning with its 2 TB format at $399. Launch dates for for the $299 500 GB and $349 1 TB Xbox One S configurations have not yet been announced.

Half the size of the first Xbox One, the S supports video in 4K ultra-high definition, but only if it is connected to a TV that also supports the feature.