Last XBox? No, but unless something major changes at Microsoft it's going to wind down in another generation or two.
The problem is that, while XBox brand isn't actively loosing money, it's also not making anywhere near as much money as Office or Windows. There are better projects Microsoft can invest its money in and the investors know this. Without someone like Don Mattrick keeping the division together it will slowly get its talent absorbed by Microsoft's more influential divisions. There's easily enough juice for another console, perhaps two, which is plenty of time to turn the brand around, but that doesn't look particularly likely.
Compare to Sony, where Playstation is the only thing making money in a very large corporation. Microsoft has a good reason to slowly get out of the console business, Sony has a good reason to double down on it.
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