Microsoft extends Xbox 360 warranty to three years

Looks like it is still costing Microsoft more than expected to spend beating Sony and Nintendo to the shelves. Microsoft has announced it is extending the warranty for the Xbox 360 to three years, costing the company approximately $1 billion.

Besides appeasing Xbox 360 console owners who have been annoyed by repairs and the infamous red ring of death (RROD), the announcement comes in time to get a bit of extra pre-E3 coverage.

In a statement issued by Microsoft, the decision to extend the warranty came …