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Neoraf said:

MontanaHatchet, because Microsoft don't need to.
They are gaining ground without doing it right now.

They can play with the market, letting things go and watch, and then... bang!
Normal behavior from a predator.

They don't need to? Okay, why didn't they do it when they could have though? Why not buy Sony or Nintendo last generation? Truth is that it's not that easy (as NJ5 explained).