At this point, Microsoft is pulling out all of the stops with the Xbox One in order to compete with their console rivals in Sony's PlayStation 4 and Nintendo's Wii U. A few months ago, Microsoft turned a lot of heads during this year's Electronic Entertainment Expo by unveiling the inclusion of backward compatibility for Xbox One, launching the feature as a beta on June 15 for Xbox preview members, with it going live some time this fall. And more recently, Microsoft's Corporate Vice President, Kudo Tsunoda, said that the competition couldn't “stack up” with their system's holiday exclusives, which many fans would contend is debatable.

However, perhaps one of the tech firm's most interesting showings for the console was the divulgence of the Xbox One Elite controller at E3 2015. During the conference, Microsoft extolled the virtues of its sleek design, customization, and responsiveness. Its reveal trailer focused heavily on the controller's new D-pad, more sensitive and optional hair triggers, button assignments, as well as its interchangeable back paddles. Now, according to the Microsoft Store, fans will be able to own the Xbox One peripheral on October 27.

Although the company has yet to officially confirm the actual release date for the Elite controller, some retailers other than Microsoft's online shop – namely GameStop – are also listing October as the month of availability. Pre-sales for the controller are going on now, but what might give some gamers pause is its whopping price tag at $149.99.

For gaming fans who wish to have even more of an upgrade and don't mind a wait that's a bit longer, Microsoft announced the release of an Xbox One Elite console bundle with a 1 TB hard drive, and the new controller to boot. Fans have some extra time to put their cash aside, as the package is set to arrive at retailers on November 3, 2015 and is expected to cost $499.99.

The new bundle aside, Xbox One owners who are debating whether or not to drop $150 on the Elite controller need to weigh several options. Rather than spend that much money on a new peripheral, fans can get two brand new games instead, and have a little extra dough left over for a used title. The much vaunted Halo 5: Guardians will be dropping on the same day as the Elite controller, so perhaps putting some savings toward the latest entry in Microsoft's long-running FPS franchise instead might be a better route to take. At any rate, the Elite controller's overall specs and price seem to be the most beneficial for pro gamers, so perhaps that's the niche market to which Microsoft's catering.

As previously mentioned, the Xbox One Elte controller will launch on October 27, 2015 for $149.99, and if it's pre-ordered through the Microsoft Store by 2:00pm EST on October 23, players will get the controller the day it's released.

Source: Microsoft Store (via IGN, Polygon)