Microsoft's Xbox division has shipped 70 million consoles since the Xbox 360 launched in November 2005.

Microsoft also announced yesterday that it shipped 1.7 million consoles last quarter, a figure down by some 600,000 units compared to the same period in the last financial year.

In addition, Microsoft's Entertainment and Devices Division cleared revenues of $1.95 billion, with revenue for Xbox 360 down $418 million, or 24 percent.

Microsoft has stated this loss in revenue is due to “lower volumes of consoles sold and lower video game revenue”, which has been offset “in part by higher Xbox LIVE revenue.”