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Xbox revenue dips 24 percent thanks to Xbox One price cut

In the three months leading up to March 31, 2015, Microsoft reported a 24 percent drop in revenue from its Xbox division compared with last year, attributing much of the decline to sales of an "increased mix of lower price Xbox One" consoles. Microsoft cut the price of the Xbox One from $500 to $400 (and it ditched the Kinect) in June 2014, and it's knocked off another $50 since. The corporate Xbox arm includes both the Xbox One and Xbox 360, and Microsoft did not separate sales of each console in its Q3 2015 financial report. Hardware revenue overall was down just 4 percent, boosted by Surface tablet sales, which were up 44 percent over last year to $713 million.