July 10 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.
"Microsoft will continue to vigorously innovate and delight
gamers with Xbox," said Nadella in an email released by the
company on its website. (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
(Reporting by Supantha Mukherjee in Bangalore)