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Wal-Mart to take preorders for Xbox One, PS4

BENTONVILLE, Ark. (AP) -- The world's biggest retailer is moving on from its disappointing earnings report last week and gearing up for pre-orders of the much anticipated Xbox One and PlayStation 4.

Wal-Mart Stores Inc. announced Tuesday that it will start taking pre-orders for the buzzed-about gaming consoles starting on Saturday. Both are set to go on sale at stores later this year and are sure to be hotly sought after items for the holiday season.

Wal-Mart said shoppers who want to pre-order either console must do so at one of its stores. Consumers must give a 10 percent down payment — which is $40 for the PlayStation 4 and $50 for the Xbox One. Individuals can then choose to either pay for the console in full once it becomes available, or make payments over time.

Pre-ordered gaming consoles can be picked up once the launch dates are specified, or Wal-Mart says it can hold the pre-ordered consoles until Dec. 13, giving shoppers more time to pay for them.

The PlayStation 4 is expected to retail for $399, while the Xbox One is set to sell at $499.

The Xbox One being rolled out by Microsoft Corp. looks to serve as an all-in-one device that lets users watch television, play movies, listen to music and browse the Internet as well as play video games. The PlayStation 4 is being dubbed by creator Sony Corp. as a "supercharged PC" much like the Xbox.

Wal-Mart said that it will also have extra controllers and certain games available for reserve at $59.96 per item. The games include Forza Motorsport 5, Deadrising 3, Ryse, Killzone, Knack and Driveclub.

Last week Wal-Mart reported second-quarter results that missed analysts' estimates, saying the weak global economy is continuing to hurt its low-income shoppers. The retailer also cut its full-year earnings and revenue forecasts.

The Bentonville, Ark., company has more than 10,800 stores in 27 countries. Its stock shed 17 cents to $73.41 in afternoon trading.