Is this true? Defective Xbox 360 consoles to cost Microsoft more than $1B?

SAN FRANCISCO -- Microsoft announced Thursday it expects to spend more than a billion dollars fixing flawed Xbox 360 video game consoles, which have logged "an unacceptable number of repairs."

The blow to Xbox 360's reputation comes as it vies in the marketplace with Sony's languishing PlayStation 3 and Nintendo's coveted Wii consoles, which made their debuts in November of 2006.

Microsoft reports it has sold more than 10 million Xbox 360 consoles since its US launch at the end of 2005. The company would not disclose how many of the consoles have needed repair.

Microsoft said it discovered console flaws that cause hardware failures signaled by three flashing red lights.

Microsoft is offering to repair or replace problematic Xbox 360 consoles.

Microsoft is extending Xbox 360 warranties from one to three years and offering to reimburse those who bore the cost of fixing the consoles.

"This problem has caused frustration for some of our customers and for that, we sincerely apologize,

Is this true? Defective Xbox 360 consoles to cost Microsoft more than $1B?symatec

YES IT IS because it's all over the news and it's even on xbox.com take a look

http://www.xbox.com/en-US/support/peterm...

we win now!!!!!!!!!!!

well the only reason Microsoft decided to do this is there was hints that the federal government along with other international governments was going to investigate Microsoft for fraud and selling faulty products of which they decded to sell, so MS decided to take a 1 billion dollar hit ind=stead of something higher from all of the gov'ts which was to total over ten billion dollars in fines and repairs. Although this is only a temporary fix to the real problem because the xbox's will break down again because it's a design flaw, and therefore will probably lead to a recall of all MS xbox 360s if the rates continue to go higher in the next couple of months.