Microsoft has said that Xbox has officially “lost the console wars.” This is stated in a document presented during Microsoft’s legal “battle” with the US Federal Trade Commission (FTC) regarding the acquisition of Activision Blizzard for $ 69 billion. This is reported by IGN.

A section of the document, submitted by Microsoft, describes its entry into the gaming industry in 2001, when its original Xbox console was outsold by both Sony and Nintendo by a “significant margin”. And, per Xbox, it hasn’t stopped “losing” the “console wars” ever since.

“The Xbox console is consistently the third (out of three) in terms of sales, after PlayStation and Nintendo. In 2021, the share of Xbox was 16%…”, the document says.

In terms of console revenue and the share of consoles currently used by gamers, Xbox has 21%.

Microsoft continues to argue that as a result, it is “betting on a different strategy,” earning revenue from the sale of games rather than consoles. According to the company, it sells its consoles at a loss, effectively subsidizing gamers’ purchases of hardware in hopes of offsetting revenue from games and accessories.

We will remind you that recently the FTC filed a statement to prohibit the company from buying Activision Blizzard. The commission is seeking an injunction from a U.S. federal district court weeks before the deal’s July 18 deadline.

At the same time, the technology giant is eager to implement this agreement. Microsoft and Xbox executives will personally defend the deal with Activision Blizzard in court.