NEWS - Thursday, December 5, 2002


Microsoft stands behind the power of the X

SCOTTSDALE, Ariz., Dec 4 (Reuters) - Software giant Microsoft Corp. (nasdaq: MSFT - news - people) said on Wednesday it would pour more resources into its efforts to carve out a position in the $10 billion video game market rather than cutting its losses and exiting from the venture. Microsoft’s Chief Financial Officer John Connors, when asked if the world’s number one software maker had an "exit strategy" for the year-old Xbox video game machine, said in a Web cast: "The fallback position is probably to double down and make it successful." Although Microsoft hasn’t disclosed how much it has spent on the Xbox so far, figures released last month showed that the home entertainment division, which includes the Xbox, lost $177 million in the last quarter. Microsoft is expected by analysts to spend more than $2 billion over five years on the Xbox machine, which launched a year ago as part of Microsoft’s push to get its technology and software off the the desktop and into living rooms worldwide. Connors was speaking at the Credit Suisse First Boston annual technology conference in Scottsdale, which was closed to media. Japan’s Sony Corp. <6758.T>, whose PlayStation consoles have been the best-selling video game machines in history, is competing aggressively with Microsoft to hold on to its leading market position. Both the Xbox and the PlayStation 2 are now linked to the Internet, which is expected to fuel further growth in game titles as players play video games and compete against each other in virtual worlds from their living rooms. Shares in Redmond, Washington-based Microsoft were down 17 cents at $56.54 in late afternoon Nasdaq trade after trading higher for most of the day.
Source: http://www.reuters.com/

Comments

Site Statistics

Registered Members: 43,969
Forum Posts: 725,032
Xbox One Titles: 630
Xbox 360 Titles: 1,084
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 583
Xbox Titles: 847
Staff Reviews: 1,431
Member Reviews: 10,339
News Articles: 13,022
Screenshots: 28,654
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

Firewatch
Post by BananaMan
0 Replies, 0 Views

Smite
Post by Nato King
4 Replies, 43 Views

Club for Forza Horizon 3
Post by TheOutcast-XBA
9 Replies, 491 Views

Destiny: Rise of Iron - Devil's Lair Strike Remastered
Post by Variation-XBA
0 Replies, 93 Views

Video - Destiny: Rise of Iron
Post by Variation-XBA
0 Replies, 82 Views

Interview: Kevin Carthew - Creative Director of Team17
Post by Variation-XBA
0 Replies, 65 Views

XboxAddict Gaming Club
Post by Symmetric-XBA
10 Replies, 263 Views

Article: The Art of Deus Ex Universe Artbook
Post by Variation-XBA
0 Replies, 148 Views

Call of Duty: Infinite Warfare Preview
Post by Variation-XBA
0 Replies, 171 Views

Halo Bluetooth Speaker - YES PLEASE
Post by TheOutcast-XBA
6 Replies, 376 Views

Titanfall 2 Pre Alpha Tech Test Impressions
Post by Variation-XBA
1 Replies, 312 Views

Les jeux par abonnement
Post by oryanphine
0 Replies, 294 Views

In Preparation For Horizon 3!
Post by Creeping Judas
7 Replies, 343 Views

Sword Coast Legends - A Hidden Gem
Post by Creeping Judas
3 Replies, 360 Views

Xbox Design Lab: A Neat Way To Make Xbox One Gaming Personal
Post by Variation-XBA
1 Replies, 308 Views

© 2000-2016 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics