According to the latest figures from Net Applications Microsoft's Internet Explorer browser has lost ground to the competition for the seventh straight month. Firefox on the other hand has gained share over the same period climbing over 3% to 21.53 % of the browser market.

Apple's Safari browser holds 8.29% of the market and Google's Chrome browser has 1.12% of the market. IE has dropped 7% in market share since February of last year. Microsoft IE had lost 9% over the prior two years.

Microsoft is readying its next version of the venerable IE browser called Internet Explorer 8 in an attempt to offer the features that users are migrating to other browsers for like private browsing and cross-site scripting

Via CNET News