If you’re saving up for the next Xbox, the early price talk is rough. A Fortune report says Microsoft has internally projected a price of $1,200 to $1,800 for its next console, code-named Project Helix. That isn’t a confirmed price, and Microsoft hasn’t announced one.

For comparison, the Xbox Series X costs $799.99 right now. A $1,200 Helix would cost about $400 more. At $1,800, it would cost more than double, or roughly $1,000 above today’s price. That would be a big jump for any family shopping for a game console.

Why the price could climb

Microsoft raised Xbox prices on August 1. The Series X went from $649.99 to $799.99, and the Series S went from $399.99 to $499.99. Microsoft is blaming memory and storage costs, which it says have risen more than 2.5 times. The company expects them to double again by fall 2027.

Memory goes into every console, so those costs would hit a new one too. The final price could come down if Microsoft subsidizes the console.…