Submitted by: kirkland on Friday December 22nd, 2006 at 04:25 PM EST

Microsoft Corp. is extending its warranty on the Xbox 360 video game console to one year from the previous limit of 90 days. The change announced Friday applies to future and present owners.

The move matches the one-year warranty that Sony Corp. and Nintendo Co. already offer on their latest video game consoles, the PlayStation 3 and the Wii.

Customers who already have paid repair bills on Xbox consoles that they've owned for less than one year will automatically get refunds, Microsoft said.

» Full story @ MSN Money