The downturn is bigger than Xbox. Circana data cited by CNBC shows console hardware spending fell 27% year over year in November, usually a prime shopping month. Even in that ugly context, Xbox Series hardware took the hardest hit, down 70% versus the same month last year. Instead of promising a classic comeback, Microsoft is leaning into a different pitch. Phil Spencer has said Microsoft is not trying to “out console” Sony or Nintendo , and a source familiar with Xbox strategy said...
