For the first time Microsoft is revealing how much money it is losing on its Xbox game console.

Documents filed with the US financial watchdog show that Microsoft's Home and Entertainment division, which includes the Xbox, lost $177m (£112m) in the three months to 30 September.

More info can be found at BBCNews. Microsoft obviously did expect to lose money out from the console and that certainly isn't stopping them, today they officially launched the X-Box Live online service that lets gamers play online. Starter kits are now available for $49.95, which includes a year-long subscription to the service.