Squaretrade, a company that specializes in providing warranty support to purchasers of electronic goods from various manufacturers, claims 16% of Xbox 360s experience a hardware failure within six to ten months after a warranty purchase. Three out of every five failures were for the infamous “Red Ring of Death” general hardware failure error, a problem often linked to overheating. The Xbox’s figures compare poorly to competing consoles, which have a failure rate of around 3% — and if anything, the Squaretrade figure underestimates the scale of the Xbox 360’s reliability issues. Numbers don’t lie, the 360 is just a piece of shit.
http://squaretradebuyerblog.typepad.com/squaretrade/2008/02/xbox-fail-rates.html