Microsoft share price: Xbox One sales exceed one million

on Nov 24, 2013
Updated: Oct 21, 2019
Listen Sunday, November 24: Microsoft (NASDAQ:MSFT) has said it sold more than one million Xbox One game consoles in less than a day after the new machine went on sale in 13 countries .

The console, which is directly competing with Sony’s PlayStation 4, set a record for first-day Xbox sales and is currently sold out at most retailers, the American tech giant said in a statement. On the other hand, Sony has boasted of selling one million PS4 units after launching in only two countries – United States and Canada. The Japanese console will arrive to other regions, including Europe, South America and Australia, from November 29.

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Microsoft and Sony are competing for the attention of gamers and trying to revitalise a console market that shrank 32 percent from 2008 to 2012, according to market researcher NDP Group. Both companies are offering machines with improved graphics, more powerful processors and a slew of entertainment features. The Xbox One is selling for $499, while the PS4 is available for $399.

Robert W. Baird & Co analyst Colin Sebastian has said he expected shipments of 2.5 million to 3 million units for both the Xbox One and PS4 in the fourth quarter. Other analysts have predicted that Microsoft and Sony will sell around 10 million of their consoles between them till the end of March next year.
Xbox vice president Phil Harrison has appeared to admit that Microsoft would struggle to meet consumer demand for the console, telling the site that “there will be difficulty getting stock through until Christmas but we will do everything we can to accelerate that”.

A spokesman for Microsoft said: “We have been blown away with the demand for Xbox One by our fans. Pre-orders are over double the amount when we launched Xbox 360. We are doing everything we can to make sure Xbox fans have an Xbox One under the tree this Christmas but they should definitely shop early this year.”

Harvey Eagle, Xbox marketing head, has explained that shortage in supply would be determined by whether retailers decide to hold back stock or not. “It’s the retailer’s decision whether they hold back any stock for on-shelves. Currently pre-orders are in excess of supply, but ultimately we leave those kind of decisions to retailers,” Eagle told MCV in an interview earlier this week.
PricewaterhouseCoopers has said in a report that it expected world-wide console game sales to increase 4.2 percent to $25.98 billion (₤16 billion) this year, and estimates another 6.4 percent jump in 2014. That is less than the 28 percent growth the industry experienced in 2007 after the previous generation of videogame consoles hit the shelves.
Microsoft’s shares on Friday closed $0.17 or 0.45 percent higher at $37.57.
**As of Friday, November 22, buy Microsoft shares at $37.60.**
**As of Friday, November 22, sell Microsoft shares at $37.51.**
**As of Friday, November 22, buy Sony shares at ¥1,876.00.**
**As of Friday, November 22, sell Sony shares at ¥1,873.00.**
Trade these shares now through Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.
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