70 million Xbox 360s have been sold worldwide since the console launched in November 2005, Microsoft has announced.

This includes 1.7 million which were shifted during Microsoft's Q1 2013 - July to September - a figure which is 600,000 units down compared to the same quarter in the previous year.

By comparison Nintendo has sold a massive 96.56 million Wii consoles as of June 2012, whilst Sony sits in third place with 63.9 million PS3s sold as of March 2012.

Microsoft also revealed a 44 per cent increase in research ad development expenses to $140 million, some of which is likely to have been lavished on next-generation hardware.