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