After 10 years and 90 million consoles Microsoft pulls the plug on the Xbox 360

Microsoft will stop producing its previous generation gaming console, known as the Xbox 360, which was first launched in 2005.

More than a decade after the console hit the market, Microsoft made the announcement in a blog post from Phil Spencer, the head of the company's gaming unit on Tuesday.

"While we've had an amazing run, the realities of manufacturing a product over a decade old are starting to creep up on us," Spencer said. "Which is why we have made the decision to stop manufacturing new Xbox 360 consoles. We will continue to sell existing inventory of Xbox 360 consoles, with availability varying by country."

The 360, as it is known, is one of the best-selling consoles of all time, with almost 90 million sold since being first launched in 2005. The 360 was Microsoft's follow-up to their inaugural console, the eponymous Xbox, which launched the company into a duopoly with Sony's PlayStation and pushed all other major consoles virtually out of the market.

In addition to selling off all existing inventory, Microsoft says it will still support the device, and offer software and other upgrades via Xbox Live, meaning gamers can still use their devices for the foreseeable future.

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