Elite 360 Red Rings In U.K Cost Millions

We all know the human cost of the dreaded Xbox 360 Red Ring of Death--Anguish, pain, screaming and other unpleasantness are common symptoms of a 360 gamer met with the dreaded harbinger of console death--but what about the monetary losses? According to Britain's The Mirror, Microsoft will shell out up to £500 million in Europe, and that's just for the improved Xbox Elite.

The British paper reports that hundreds of "angry owners" are sending their £290 consoles back to. The errant 360s are shipped to Germany for repairs, although no one seems to know exactly why they're breaking down.

Jamie King, 16, from Gomshall, Surrey, said: "I got my Xbox in September and it packed up eight months later in June...First, it kept freezing, then it developed the red ring of death." We feel your pain, Jamie King.

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Mirror: £500m bill for Xbox red ring of death