Both Microsoft and Sony are trying to tackle glitches reported during the launch of their new game consoles. Phrases like "the blue light of death" and "the disc drive of doom" were me frequently across the online gaming forums during the last few days. They were all related to problems reported by some gamers who picked up the next-generation Xbox One and PlayStation 4 consoles at launch.

Microsoft said it's replacing the Xbox One units of users who have reported systems that won't read discs, an issue dubbed "the disc drive of doom." The company said the problem is affecting "a very small number" of customers, who will also receive one free downloadable game from Microsoft Game Studios.

Sony announced after the debut of the PS4 earlier this month that it was replacing the units for "less than 1 percent" of users whose new consoles malfunctioned and displayed a blue light or "the blue light of death."

Both Sony and Microsoft said they're working to troubleshoot such issues and replace broken consoles as quickly as possible

Microsoft in 2007 had also dealt with the "red ring of death" problem when production problems caused several predecessors of the Xbox 360 to lock up and display three flashing red lights. The company extended customers' warranties to three years and said it had spent more than $1 billion to repair the problems associated with the Xbox 360.

Microsoft and Sony both announced that more than 1 million Xbox One and PS4 consoles were sold in the 24 hours after their release this month.