Xbox sales drop, blames ‘soft gaming console market’

Despite fifteen straight months at the top of the console charts, Microsoft’s latest sales figures show the division behind Xbox posted a quarterly loss of $260 million.

According to Gamespot, the figures show a quarterly sales figure of $1.62 billion for the entertainment and devices division; a 16 per cent drop from last year.

The company blamed the loss on a "soft gaming console market."

Microsoft’s gaming group, by comparison, is up on its sales for the fiscal year, climbing from $7.4 to $7.8 billion over the same period.

With reports the new Xbox console will soon be revealed, the 360’s quarterly sales have declined by 48 percent from last year.

Microsoft as a whole is holding steady, with quarterly revenues up by six percent to $17.4 billion, although profits are down from $5.2 to $5.1 billion.