LIVE: Microsoft Announces The New Xbox

Microsoft is about to announce its next video game console, a new and improved Xbox. 

The announcement comes at an interesting time for the video game industry. As people gravitate toward casual mobile games on smartphones and tablets, fewer are buying regular video game consoles, which are more expensive and have games that cost $50 or more.

Microsoft needs to prove that its new Xbox can be more than a device targeted toward the “hardcore” set of gamers. It needs to have plenty of entertainment options from streaming services like Netflix and even some original content.

The event kicks off at 10 a.m. Pacific, 1 p.m. Eastern. You can follow the news as it happens in the stream below.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

microsoft sai-us xbox