Microsoft to Invest $1 Billion in Xbox Live
Reuters | at | by Mike
Microsoft Corp. will announce on Monday a billion-dollar investment in its new online game service, "Xbox Live," The New York Times reported. Microsoft officials were not available for comment. The company hopes to save its Xbox video-game system, which it started shipping last November but lags behind industry leader PlayStation 2 from Sony Corp., the Times said. Just last week, Microsoft cut its Xbox game console to under $200 in North America and Japan just days after Sony did the same with its PlayStation 2, heating up a price war between the two giants. Xbox Live will give gamers who subscribe a global access over the Internet to find partners for games, the report said.