Microsoft is set to unveil its next generation Xbox games console on May 21st.
Expected to be called the Xbox 720 and go on sale in time for Christmas, the console will battle Sony's PlayStation 4.
The consoles hope to fend off a growing threat from iPhone and iPad games, and become living room 'hubs' for everything from TV and music streaming to showing off Facebook photos on the big screen.
Microsoft this week sent out a teaser email for the May 21st event, which will be broadcast online
THE TABLET THREAT
Tablets and smartphones already account for around 10 percent of the $80 billion gaming market.
Those mobile devices, analysts predict, will within a few years be as powerful as the current slew of game-only consoles.
Apple already has a system called Apple TV to link tablets to a TV wirelessly, allowing gamers to play on the big screen, using their iPad or iPhone as a controller.
The event at its Redmond, Washington, headquarters that will likely shed light on its next video game console.
Microsoft Corp. said Wednesday that the May 21 event will reveal a new generation of games, TV and entertainment.
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Nineteen days later Microsoft plans to reveal more details about its games at the E3 video game expo in Los Angeles.
Microsoft says the event will be broadcast on Xbox.com and on Xbox Live and on Spike TV in the U.S. and Canada.
In February Sony Corp. gave some details about its next gaming machine, the PlayStation 4, at a New York event. Nintendo's latest game console, the Wii U, launched last fall.
All three are trying to position their devices as entertainment hubs.
Sony unveiled some details of its PS4 console earlier this year - but not what the console will look like
The new console is also expected to include an undated version of Kinect, Microsoft's motion sensing camera
Microsoft's current Xbox. The next version is expected to have a radically different design
Writing on his official blog on Wednesday, Xbox spokesperson Major Nelson wrote, 'On Tuesday May 21st, we'll mark the beginning of a new generation of games, TV and entertainment.
'On that day, we'll be holding a special press event on the Xbox campus and we invite you to join us via the live global stream that will be available on Xbox.com, Xbox LIVE and broadcast on Spike TV if you are in the US or Canada.
'On that day, we'll share our vision for Xbox, and give you a real taste of the future.
'Then, 19-days later at the Electronic Entertainment Expo (E3) in Los Angeles, we'll continue the conversation and showcase our full lineup of blockbuster games.'
Little is know about the new console – not even its name, and Microsoft has gone to great lengths to keep details secret.
Gamers have been referring to it as the Xbox 720, although a codename, Project Durango, also surfaced last year on rumour sites.
The firm could also introduce a new payment system to allow users to easily buy games, films and music through the console.BBC head of digital Robert Nashak recently told industry news site GamesIndustry.Biz, 'I think they're going to have a system when you get into Xbox Live that's going to be very seamless; you'll see more frictionless billing'.