Microsoft Corp Chief Executive Satya Nadella committed to develop its Xbox gaming platform in a letter to company employees, quashing rumors that the unit might be spun off.
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"Microsoft will continue to vigorously innovate and delight gamers with Xbox," said Nadella in an email released by the company on its website. (http://bit.ly/1bqubHk)
Speculation has mounted for years over the fate of the Xbox business, which has been deemed a potential candidate for a spinoff by some analysts and Microsoft insiders.
Microsoft shares were little changed at $41.64 on the Nasdaq on Thursday.