Microsoft: Next-gen could hit 1 billion consoles sold

According to Microsoft senior vice president of Interactive Entertainment Yusuf Mehdi, the company is looking to sell 25 million more Xbox 360's over the next five years.

"We believe over the next five years we can break a 100 million unit installed base," Medhi told OXM. "That's something we're shooting for, it's not a financial plan as such, it's just rough numbers if you will. To sell another 25 million, half of those will probably come from replacements, but half will come from new buyers."

"And the way we'll break into those segments is by hitting new price points, getting new classes of entertainment to come with the Xbox, and breaking into new customer segments. So you'll see the Xbox 360 continue to exist, even as we launch the next generation Xbox One."

Microsoft Game Studios executive Phil Spencer told GameSpot earlier this week that a large 360-related announcement was coming at E3 2013, that would support the platform for "years to come."

The company also believes that the next-generation of consoles, including the Xbox One, could reach 1 billion in combined sales. Microsoft is hoping that mass-market audiences are enticed by the console's enhanced media and voice capabilities.

"Every generation, as you've probably heard, has grown approximately 30%. So this generation is about 300 million units. Most industry experts think the next generation will get upwards of about 400 million units. That's if it's a game console, over the next decade," added Medhi.

"We think you can go broader than a game console, that's our aim, and you can go from 400 million to potentially upwards of a billion units. That's how we're thinking of the Xbox opportunity as we go forward."

[Image via TechRadar]