NEWS - Tuesday, June 25, 2002
Microsoft Plans New Console Around 2006
Microsoft plans to release a new home video-game console around 2006, the Nihon Keizai daily reported Tuesday, citing CEO Steve Ballmer. Microsoft entered the video-game console market last November with the Xbox home game machine. But lagging sales and increasing competition with rivals such as Sony and Nintendo led Microsoft to cut Xbox prices. Ballmer suggested that the next model will be equipped with improved Internet capability and said game machines will become more like Net-enabled digital home appliances, according to the report. Microsofts shares gained $1.88, or 3.6 percent, to close at $54.16 Monday.Source: http://cbs.marketwatch.com/