He explained that Microsoft has "no plans" to lower the entry price, despite rival Sony launching the PlayStation 4 for $400.
"We are really, really excited about the value we're going to deliver on day one," Whitten said.
Whitten also explained that Microsoft has no plans to drop the Kinect requirement for Xbox One or change its default setting from "on" to "off."
"It's part of the Xbox One architecture," Whitten said.
Responding to user concerns regarding privacy, Microsoft said earlier this month that players will be able to customize all Kinect settings and made clear that idle living room chatter is not recorded or uploaded.
Under the terms of Microsoft's new Xbox One policies, players are free to trade-in, lend, resell, gift, and rent disc-based games in the same way that they can today on Xbox 360. In addition, Microsoft has done away with 24-hour Internet "check-ins" and lifted the Xbox One region-lock.