"But more likely 16-17m units shipped in either 28 or 31 months."
The gap between Xbox shipped and sold-through will be very small with how slow they are selling and how little they have been stocking. We've regularly seen Xbox have stock issues over the last couple of years despite terrible sales. The gap between sell through and shipped is probably well under 1m for Xbox series.
28.2m shipped as of October 2025 just makes no sense whatsoever. We have the percentage drops to know that 2023 was a lot better than 2024 which was a lot better than 2025.
Given what we know from MS reported hardware revenue and the YoY drops reported by Circana, GFK etc, to only have done ~7m in 2.5 years since the 21m+ presentation is inconceivable.
2025 is bad enough to only ship around 2.5m units, 2024 and 2023 were MUCH better by comparison.
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