(Pocket-lint) - Xbox head Phil Spencer has revealed that he is very happy with the current pricing plans for the Xbox Series X. However, he has also said that the company could react to PlayStation's pricing strategy for the PS5 once that is known.

While we do not yet know how much the Xbox Series X will cost, Spencer told IGN's Unlocked podcast that he feels the console will be competitive considering the tech inside: "I feel good about the price that we’re going to be able to get to," he said.

"I feel good about the price and the performance capabilities that we have with Series X. I feel incredibly strong about the overall package."

But, with the Xbox One having lost ground to the PS4 on its launch in 2013, partly thanks to being $100 more expensive in the US (£80 more in UK), he admits that there will be one eye on what PlayStation is doing.

"We’re definitely going to be keeping our eyes wide open as we go towards launch, looking at what the competition is doing." Spencer added.

"But we have a plan and we feel very solid about our plan. We think it’s a winning plan… I feel that we’ve got a plan that can win."

It is currently thought that the Xbox Series X could cost around £450, considering the parts and technology inside. In all honesty, we doubt the PS5 will be much cheaper.

Writing by Rik Henderson.