Microsoft extends Xbox 360 warranty
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Microsoft said Thursday &quot;an unacceptable number of repairs&quot; to its Xbox 360 will force it to take a charge of more than $1 billion for its most recent quarter, and it announced a new, extended warranty for the video game console.
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Microsoft Corp.  said on Thursday said it would take a more than $1 billion charge to fix "an unacceptable number of repairs" to its Xbox 360 video game consoles and had missed shipment targets for the end of June.
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Microsoft Corp. this week acknowledged another overheating problem with its video game hardware, this one affecting the Xbox 360 Wireless Racing Wheel driving game controller.
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InfoWorld - Microsoft expects to take an earnings charge of more than $1 billion for the quarter that ended in June related to expenses it will incur fixing faulty Xbox 360 machines.
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Two California residents have filed a lawsuit against Microsoft over claims that its Xbox 360 game console scratches video game discs. It's the second such suit in recent weeks.
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Microsoft is replacing parts for the steering wheel control on its Xbox games console after users reported overheating and smoke.
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A new report from independent warranty provider SquareTrade has found that the failure rate of an Xbox 360 is not as high as critics would have you believe, but it is still much higher than the official number from Microsoft.
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Giant denies it's working on a console Microsoft will not build an HD DVD drive into a future Xbox 360 because it doesn't want to "limit the user's experience", an insider at fellow HD DVD backer Toshiba has said.â¦
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Microsoft Corp.'s fiscal fourth-quarter profit edged up 7 percent despite a hefty charge to cover the cost of defective Xbox 360 video game consoles.
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Hot money hole Microsoft is taking a $1bn hit to fix Xbox 360s, conceding residual hardware faults in its games console are causing users frustration and an "unacceptable number of repairs."â¦
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InfoWorld - Microsoft said Wednesday it will replace discs of its Halo 3 Xbox 360 game that were already scratched when users purchased them.
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(InfoWorld) - Microsoft managed to earn a slight profit for its fiscal 2008 fourth quarter despite a billion-dollar-plus charge related to expenses the company incurred to fix faulty Xbox360 consoles. For the quarter that ended June 30, Microsoft reported net income of $3.04 billion compared to net income of $2.83 billion for the same period last year. Diluted earnings per share for the quarter were $0.31, a number that took into account a previously announced charge related to extending warranties for its Xbox 360 console. Excluding that charge, EPS for the quarter was $0.39, in line with estimates from Thomson Financial analysts. Revenue for the quarter was up 13 percent at $13.37 billion, compared to revenue of $11.8 billion for the same period last year. In a statement, Microsoft attributed revenue growth to demand for its new client OS Windows Vista, as well as business products such as SQL Server and Windows Server. Microsoft's Visual Studio developer tools and Xbox360 consoles also did well in the quarter, the company said. Microsoft said earlier this month it would take an earnings charge of more than $1 billion for its fourth quarter related to expenses for expanding its warranty coverage to Xbox 360 customers who have a certain type of hardware failure, which required an "unacceptable" number of repairs to the consoles. Microsoft revenue also was up for the year and topped $50 billion for the first time. For the 2007 fiscal year ended June 30, revenue was $51.12 billion, a 15 percent increase over the prior year, when the company reported $44.28 billion. Diluted earnings per share for the year were $1.42, which includes $0.07 in charges for certain items. Excluding those charges, EPS for the year would have been $1.49, an increase of 17 percent over the prior year when the company also adjusted for certain items and reported EPS of $1.21. For the current quarter, which began July 1, Microsoft is expecting revenue in the range of $12.4 billion to $12.6 billion, with diluted EPS in the range of $0.38 to $0.40. For fiscal-year 2008, which will end June 30, 2008, revenue is expected to be in the range of $56.8 billion to $57.8 billion, and diluted EPS is expected to be in the range of $1.69 to $1.73. However, Microsoft noted its guidance does not include the as-yet-undetermined impact of costs associated withÂ the company's acquisition of aQuantive, which is expected to close in the current quarter. Microsoft announced in May that it would purchase the digital advertising and marketing services agency.
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Less than two weeks after Microsoft announced a $1 billion charge to extend the warranty of failing Xbox 360 consoles, the executive who headed the company's video game business has resigned to take a job at Electronic Arts.
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According to Microsoft, more than 11.6 million Xbox 360 consoles have been sold.
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Microsoft refuses to comment on alleged addition of heatsinks to repaired Xbox 360 units in Europe and other hardware flaws.
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Plus: Microsoft to release three versions of Xbox 2. [News.com Extra]
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Microsoft is paying out more than $1bn (Â£497m) to repair chronic problems with its Xbox 360 games consoles, which break down in a fault known as the 'red ring of death'.