Microsoft exec says Xbox 360 still has three years of life in it

Even though Microsoft is gearing up to support the launch of its next console, the Xbox One, on November 22, the company plans to support the established Xbox 360 console for at least another three years.

Speaking at the Citi Global Technology Conference, Xbox chief marketing and strategy officer Yusuf Mehdi confirmed the three year plan. He went on to call the Xbox 360 "incredibly profitable in the tall" which, translated from business speak, means "it's making impossible to believe amounts of money late in its life."

The Xbox 360 will celebrate its eighth birthday in November. Outside of the Xbox 360 S remodel introduced in in 2010, Microsoft has expanded upon its Xbox 360 business with a subsidized console. Just last week, Microsoft converted its Xbox 360 funny money MS Points over to real-world currency.

This article was originally published on Joystiq.