Redmond, Wash. - Microsoft (NASD: MSFT) on Wednesday launched its "New Xbox Experience" initiative, which will expand the range of HD and other content available via its broadband-connected Xbox 360 video game console.

New features include instant streaming of Netflix (NASD: NFLX) movies and TV episodes in HD, customized gamer avatars and group voice chat, and a new Community Games channel featuring user-developed titles for download.

The company also said it expects to sell its 25 millionth Xbox 360 by the end of the month, some three years after its launch.

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