KIN Cost Microsoft Over $240m And Ate Up Xbox Profits

Decent financial performance aside, there was one thorn in Microsoft's paw during the company's results call and that was the KIN write-off.  With the handsets themselves ousted from Verizon stores and sales frozen, all that was left was to figure out how much of the company's cash had been wasted overall.  Without development costs, Microsoft admitted, they'd spent $240m on the project.

That was enough to take the shine off the Entertainment and Devices group, which had been glowing with their strong Xbox sales but still managed to post a $172m loss thanks to KIN's demise.  Neither Microsoft nor Verizon has confirmed any official sales figures – we've heard as little as 503 or as many as 9,705 depending on unofficial sources – but we've a feeling those inevitable "failed tech" lists will end up having a KIN or two next to Clippy.

[via Electronista]