Microsoft has released a mandatory system update for the Xbox 360. It has gone live today and you will be required to update when you next sign into Xbox Live.
There are no new features being added, with Xbox 360 mouthpiece 'Major Nelson' saying that the update will "increase performance" and is "part of our continued effort to provide the best possible Xbox LIVE experience."
A fix is promised for players experiencing colour distortion issues while navigating the 360 dashboard. However, the colour fix does not apply to third-party apps. A fix for that problem is due "over the coming months".
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