Xbox 360
IN PHOTO: Microsoft Xbox 360 gaming console units are shown for sale at a Microsoft retail store. REUTERS/Mike Blake

Microsoft has stopped making the Xbox 360 console. According to IGN, Xbox head Phil Spencer announced that the company will no longer be making the popular gaming console.

"Xbox 360 means a lot to everyone in Microsoft," wrote Spencer. "And while we’ve had an amazing run, the realities of manufacturing a product over a decade old are starting to creep up on us. Which is why we have made the decision to stop manufacturing new Xbox 360 consoles. We will continue to sell existing inventory of Xbox 360 consoles, with availability varying by country."

Spencer further went on to say current Xbox 360 owners will still get hardware support when needed and also said users will still be able to buy Xbox 360 games through the online store. Xbox Live services will also remain active for the 360. As for the Xbox Live servers, Spencer reveals they will remain active for gamers who would continue playing their favorite titles online with their friends.

To celebrate the end of the 360 production, Spencer gave a handful of fun stats saying 78 billion hours were spent playing games on the Xbox 360, with players gaining 468 billion Gamescore from 27 billion achievements.

The Xbox 360 turned 10 years old in November 2015, and the company has been pushing the Xbox One more lately. With the drop in price of the Xbox One to $299 and the huge list of backwards compatibility games still growing, it was only a matter of time before Microsoft revealed the consoles production would stop.

As Xbox states, there are more than 100 backwards compatible games to play on the Xbox One and the list continues to grow.

To see Phil Spencer's full message, entitled "Achievement Unlocked: 10 Years – Thank You, Xbox 360," head over to Xbox Wire.

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