Update: Microsoft reveals Xbox One

    11:47 AM, May 21, 2013   |    comments
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    REDMOND, Wash. (AP) - Microsoft thinks it has the one.

    The company revealed the Xbox One, its next-generation entertainment console, during a presentation Tuesday at its headquarters in Redmond, Wash.

    It's been eight years since the launch of the Xbox 360. The original Xbox debuted in 2001, and its high-definition successor premiered in 2005.

    For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360. In April, consumers spent $208 million on Xbox hardware, software and accessories, more than rival consoles from Nintendo and Sony, according to market research firm NPD Group.

    In recent years, Microsoft expanded the scope of the Xbox 360 beyond just games, adding streaming media apps and the family-friendly Kinect system.

    Tuesday's event will give Microsoft the opportunity to address questions about the rumored hardware, including what it will cost and if it will require an Internet connection.

    Watch the live presentation here starting at noon CST

    (Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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