Arguably the best gaming console on the market, the Xbox 360, has sold over 40 million since its public debut in November of 2005. Early yesterday, Microsoft announced that sales in the third quarter are up 2% opposed to last year. In the third quarter alone Microsoft has generated an astounding $1.67 billion in revenue.

Unfortunately, with the holiday rush coming to a close, Microsoft also announced that their sales are down 12% since the end of the holiday season. Of course, they have nothing to fear as Project Natal, a motion camera add-on for the 360, is set to launch later this year. Also, it’s being rumored that a new Xbox 360, only half the size of the original, could be on the market later down the road. Some are expecting it to be announced at the 2010 E3 convention in June.

Source: ign