By Bargain Bin:
During Microsoft’s (NASDAQ:MSFT) second quarter, the company sold a total of 1.1 million video game consoles, including both the Xbox 360 and the Xbox One. This was only a 10% increase in unit sales year-over-year, a surprisingly small increase that was partly due to excess retail inventory. But looking at unit sales over the past few months, Microsoft has bigger problems than excess inventory, with Sony’s (NYSE:SNE) PlayStation 4 and even Nintendo’s (OTCPK:NTDOY) Wii U trouncing the Xbox One. The situation looks dire for Microsoft.
A price cut was not enough
Microsoft released a version of its Xbox One console without the Kinect peripheral on June 9 for $399, $100 less than the version with Kinect and the same price as Sony’s PlayStation 4. This lower price helped sales of Microsoft’s console, but the PlayStation 4 is still soundly outselling the Xbox One.
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