I got the breaking news from 1UP.com and couldn't believe it. I figured you gus must know we all had issues we our XBOX 360 and this is like a sweet melody for our ears.
If you ask me I say that it's finally hurting their bussiness and that's why they took action. About time. You guys should see the huge ammount of complaints about this issue in multiple sites including XBOX.com And how the tech support is not the best and how they can't hardly speak English. Did Anybody else had this issue? Becuase I did. Btw, my XBOX 360 died with the 3 rings too. :(Microsoft Admits Hardware Issue, Extends 360 Warranty
Includes retroactive reimbursement for previous machines.ByPatrick Klepek,07/05/2007
Microsoft announced today they are extending all Xbox 360 warranties to three years, a policy that not only applies to new consoles but retroactively, as well. If you've had to pay for Microsoft to repair the red ring issue in the past, they will pay you back. At 2:30 p.m. PST, Microsoft will hold a teleconference to announce this. "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," said the company 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."