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Consoles

GameStop offers $125 off Xbox One via trade-in deal

The latest promotion from the gaming retailer offers a $125 rebate if you trade in an Xbox 360 or PS3.

A GameStop trade-in promotion can save you money on an Xbox One.
A GameStop trade-in promotion can save you money on an Xbox One. Sarah Tew/CNET

Xbox One buyers can shave some money off the price of the console if they qualify for a new trade-in deal.

Available through GameStop, the new promotion promises $125 in store credit toward the purchase of a new Xbox One. To qualify, you need to trade in your existing Xbox 360 (250GB or greater) or your Sony PlayStation 3 (120GB or greater). That means you can get the $349 Xbox One console (the version without the Kinect sensor) for as little as $225. But the offer is also good for the $499 Xbox One version with the Kinect.

For most of last year, Microsoft's Xbox One trailed in sales behind Sony's PlayStation 4. Microsoft tried several strategies to cook up sales, including offering free games. But Xbox One sales got a hefty boost last November after Microsoft chopped the price by $50. The $50 price cut was supposed to be temporary but has since become permanent. In March, Microsoft announced that Xbox One unit sales had shot up 84 percent from February, according to blog site IGN. So any drop in the price of the console is clearly a motivating factor for buyers.

To take advantage of GameStop's trade in, your Xbox 360 or PS3 must be in full working condition and include all the necessary components. Defective items may be eligible but at a lower value. The promotion is slated to end April 25.

(Via GameSpot)