Microsoft Corporation Boosts Storage For XBox Consoles

Microsoft Corporation MSFT unveiled a new version of its Xbox One gaming product with increased storage. https://www.youtube.com/watch?v=Q86LNWlQEg0 The new product, with one terabyte of storage capacity will ship to retailers June 16, the company said. Microsoft closed Tuesday at $45.65, down $0.08 cents. The new product "was sorely needed for anyone who makes daily use of their console," PCWorld columnist Ian Paul wrote Tuesday of the digital gaming product. http://www.pcworld.com/article/2932988/microsoft-bulks-up-to-a-1tb-xbox-one-ahead-of-rumored-1tb-sony-ps4.html "Although 500GB sounds like a lot of storage, it's really a pittance when you consider that most games require a minimum of 50GB of space just to start playing," according to Paul. The new console will be available for $399 and all 500GB Xbox One bundles will be priced at $349 the company said. In the nine months ended March 31, Microsoft Xbox console sales of 10.7 million units were off nearly 1 percent from a year earlier. https://www.sec.gov/Archives/edgar/data/789019/000119312515144151/d860721d10q.htm#tx860721_3 Xbox Platform revenue decreased by $471 million, or 8 percent, driven by lower prices of Xbox One consoles compared to the prior year, as well as a decrease in second- and third-party video games revenue. Xbox Platform's cost of revenue declined by $138 million or 3 percent, mainly due to lower cost per console sold. Sony is also expected to release a 1TB PlayStation 4 in the coming days, according to PCWeek.