Phil Spencer, CEO of Microsoft Gaming, promised a "business update event" to clarify the situation.
The controversial rumors came weeks after Microsoft announced layoffs in its gaming divisions.
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"We've been planning a business update event for next week, where we look forward to sharing more details with you about our vision for the future of Xbox."
Persons:
It's, Phil Spencer, —, Spencer, We've
Organizations:
PlayStation, Microsoft Gaming, Microsoft, Service, Xbox