REDMOND, Wash. - Microsoft thinks it has the one.
The company unveiled the Xbox One, an entertainment console that promises to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price.
For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360.
But it's been eight years since that machine came out, and Microsoft is the last of the three major console makers to unveil a new system.
The stakes are higher as Microsoft, Sony and Nintendo are all using their latest machines to not only draw gamers but also command the living room. That could translate into revenue from deals with content providers and sales of movies and music.