A decade later, Microsoft has finally ceased production on the Xbox 360. The company announced the news in a blog post from Xbox chief Phil Spencer today. "Xbox 360 means a lot to everyone in Microsoft," Spencer explained. "And while we've had an amazing run, the realities of manufacturing a product over a decade old are starting to creep up on us. Which is why we have made the decision to stop manufacturing new Xbox 360 consoles. We will continue to sell existing inventory of Xbox 360 consoles, with availability varying by country."

"The realities of manufacturing a product over a decade old are starting to creep up on us."

First released in late 2005, the 360 went on to become a massive success, selling more than 80 million units, far outpacing the original Xbox and cementing Microsoft's spot in the console space. Its successor, the Xbox One, launched in 2013, and Microsoft is reportedly planning to release an updated version of the hardware some time soon. The company also points out that it will continue to support existing Xbox 360s, both in terms of hardware and software. Xbox Live servers for the 360 will remain active, for example, so that you can still play games online.

The writing has been on the wall for the 360 for some time, as Microsoft introduced backwards compatibility — making it possible to play certain 360 games on the Xbox One — late last year. Still, a decade is a good run, and longer than many other consoles. Nintendo, for instance, will reportedly end production of the troubled Wii U later this year, just four years after launch.

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