New Internet Explorer Coming, Users Shrug Shoulders (MSFT)

Microsoft (NASDAQ: MSFT) announced Thursday that it would be launching the beta version of Internet Explorer 9 on September 15. The company plans to hold a a gala in San Francisco to celebrate "The Beauty of the Web."

The new browser is expected to be usable only by Vista and Windows 7 Operating Systems. For the legions of XP users, the news is a disappointing new development.

While Microsoft's Internet Explorer still controls more than 50% of the global market share, it has seen its position erode in recent years. Microsoft controlled nearly 69% of browser share in July 2008, only to hold 53% last month.

Google's (NASDAQ: GOOG) Chrome, Firefox, and Apple's (NASDAQ: AAPL) Safari browsers have all stolen a significant share from Microsoft in the past two years. Microsoft can hardly take solace in its market position, as its Internet Explorer is the default internet browser on all Windows machines.

Though Internet Explorer is necessary for some internet applications, the browser lags in features and technical abilities. Most avid Internet users quickly install a replacement browser upon purchase of a new Windows machine. It remains to be seen whether the new IE iteration can help Microsoft stop its recent slide.