The New Xbox: What to Expect From Microsoft's New Console

By: Chris Morris in CNBC

On Wednesday, Microsoft confirmed the worst-kept secret in the video game world: It plans to unveil its next generation console on May 21.

Like Sony's PlayStation 4, the new console is expected to hit stores this holiday season and many analysts and investors are hanging their hopes on the new machines to kickstart the video game industry back into growth mode.

Microsoft has been coy about what features the new Xbox will have—and not even the most ardent rumormongers claim to know what the console will be named. But in speaking with developers who have spent time with the developer kit, a few details have emerged.

The new system will likely run on an AMD processor, rather than the IBM PowerPC technology the Xbox 360 uses. For users, this means they won't be able to play their Xbox 360 games on the new system. (Similarly, the PlayStation 4 will not be backwards compatible.) The system will also beef up its system RAM to aid developers in making games.

Kinect, the motion sensor peripheral Microsoft introduced in late 2010, will be an integral part of the new Xbox and has been dramatically upgraded. Microsoft will also continue to emphasize other forms of entertainment as much as it does games. (In 2011, Microsoft brought Nancy Tellem, former president of CBS Television Studios, on board to lead its efforts to form an Xbox studio.)

"We now have a tremendous opportunity to transform [the Xbox] into the center of all things entertainment—from games, music and fitness to news, sports, live events, television series and movies—so consumers have one destination for all their entertainment needs," Tellem said upon her hiring.

The Xbox 360 has been the top selling console in the U.S. for 27 consecutive months, according to The NPD Group—and analysts say Microsoft is the company to beat in the next generation.

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Sony unveils next-gen portable device 'Vita' - PHYSORG.com

Sony unveils next-gen portable device 'Vita'

The device will allow gamers to be connected with one another over cellphone networks and Wi-Fi hotspots, and use GPS location-tracking technology. In the U.S., Sony is partnering exclusively with AT&T Inc. for cellphone service.

The device, available for $249 for its Wi-Fi-only version, was unveiled at the Electronic Entertainment Expo, the video game industry's annual convention known as E3. A version that will also have cellphone service will retail for $299, and buyers will have to subscribe to a cellular data plan.

The handheld has front and back cameras, a touchscreen in front, a touch pad on the back and two knob-like joysticks. It will enable gamers to play against people using PlayStation 3 consoles over the Internet-based PlayStation Network, a system that was recently restored after being shut down due to a massive hacking attack.

A Sony staffer demonstrated a version of "Uncharted 3: Drake's Deception," in which he used the familiar buttons and knobs but also touched the screen to move the Drake avatar across ledges and attack opponents in close combat.

Another game called "Reality Fighters" will allow users to take a picture and have fighting characters battle each other using objects from the real world.

Along with social games and email, Sony also unveiled a communication service it called "Party" that will enable voice and text chat during games or when using the Web browser.

Users will also be able to sense when other gamers are nearby, what games they have played recently, and enable in-game gifting of virtual items.