SlashGear

Good news everyone! If you’ve got an Xbox 360, today is your lucky day. Microsoft has just announced that they will be extending their warranty on the 360 to three years. It is said to cover certain hardware failures that were discovered after an investigation into the console showed potential issues.

“As a result of what Microsoft views as an unacceptable number of repairs to Xbox 360 consoles, the company conducted extensive investigations into potential sources of general hardware failures,” Microsoft said in a statement. “Having identified a number of factors which can cause general hardware failures indicated by three red flashing lights on the console, Microsoft has made improvements to the console and is enhancing its Xbox 360 warranty policy for existing and new customers.”

Unless you’ve been living under a rock, you’d know that the Xbox 360 has had major issues with the dreaded “Red Ring of Death”. Some people are citing failure rates as high as 30% on the consoles.

Microsoft has officially apologized for the issues that customers have experienced, and is even offering to reimburse customers that have had repairs made on their consoles due to these issues. Way to address the issue Microsoft!

Microsoft to expand Xbox 360 warranty [via crave]