The software giant is devising a fresh global brand positioning statement in partnership with its creative agency, McCann-Erickson.
'Play More' launched the console across the EMEA region, through Bartle Bogle Hegarty. A separate strategy was pursued in the US.
It intended to position the console as a more inclusive product than 'The Third Place' portrayed by Sony's PlayStation 2. But UK sales of Xbox lagged behind PlayStation 2 by nearly four to one, according to Screen Digest.
Xbox moved its pan-European creative account out of BBH into McCanns in May.
The company refused to confirm it has consigned the 'Play More' line to history. "We don't comment on rumours," said an Xbox spokesman.
Michel Cassius became Xbox's top marketer for Europe in March as senior director, Xbox platform and marketing. He replaced Neil Thompson, who shifted to the home entertainment division director for Central and Southern Europe.