We now know that the Xbox One will be upon us soon. So what will that mean for the Xbox 360?

According to Eurogamer, Xbox chief marketing and startegy officer Yusuf Medhi spoke about the Xbox 360's future at the Citi Global Technology Conference.

Medhi said, "If you look at 360 that platform lasted for seven to eight years and it's going to go for another three years. It's incredibly profitable now in the tail."

Microsoft is still investing in the Xbox 360 and will be shipping over 100 new games for the platform, even after the Xbox One has been released. There are also plans to reduce the cost of producing the console, which means inevitable price drops that will likely sell even more units.

It was pointed out that if support continues for the next three years, that will bring the console's life cycle to the 11-year mark.

The Xbox One will be released on Nov. 22.