Everything You Missed From Microsoft's Xbox One Announcement

XBOX MAIN IMAGE

Microsoft revealed its next-generation video game console, the Xbox One, at a big press event today.

Here’s a quick roundup of everything it can do.

Here's what it looks like. That's the Kinect sensor on top, the console in the middle, and the controller in the front.

The Xbox One has a lot of powerful specs, including a 500 GB hard drive, WiFi direct, 8GB of RAM, and a Blu-Ray player.

This is what the controller looks like.

This is what it looks like put together.

The Kinect motion sensor has a new look. It also includes a 1080p camera for HD video chats.

Skype is built-in with support for group video calls.

Here's the new home screen. It's similar to the one on the current Xbox 360.

You can watch live TV with the Xbox one. It downloads information from your cable provider and you don't need to change inputs to watch live TV. You plug your cable box directly into the Xbox.

Microsoft has a deal with ESPN so users can watch sports and also track fantasy league standings at the same time.

The SmartGlass app will let you control the Xbox One with your phone or tablet. Here's a look at the current SmartGlass app.

Xbox Live, which lets you play games online, will be powered by 300,000 servers.

A built-in game DVR lets users record and edit gameplay, then share it online.

Microsoft Studios will release 15 exclusive games in first year. Eight are brand new franchises.

Microsoft has partnered with Electronic Arts to bring four new games, NBA Live, Madden NFL, UFC, and FIFA.

Xbox is changing the TV experience. It is making a live action Halo TV series with the help of Steven Spielberg.

There's also a content deal with the NFL, which will let you manage your fantasy team as you watch games.

Unfortunately, older Xbox games will not work with the new system.

The console will launch later this year. There is not a specific price or release date yet.

Microsoft fixed the Xbox but here's what it needs to fix with Windows 8...

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.