“Microsoft has announced that its latest games console, the Xbox One, has lost the company over $400 million since its release in November,” Jack Simpson reports for The Independent.

“Posted in their annual earnings report for 2014, figures from Microsoft show that an increase in production and advertising costs brought about by the launch of the Xbox One had been responsible for the company’s losses,” Simpson reports. “The latest figures will be yet another piece of bad news for the gaming arm of the software giant.”

“Earlier this year, it was reported that Microsoft were flagging well behind market leader Playstation when it came to sales figures for both company’s latest consoles,” Simpson reports. “Figures in February showed that Sony had sold six million Playstation 4 units in 2013, while only 3 million Xbox One consoles had been sold during the same period.”

Read more in the full article here.

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