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Microsoft's Xbox is More Than Just a Game Console

Microsoft was very proud of the fact that one new game title, "Halo: The Television Series" will have the input of legendary producer/director Steven Spielberg. They also announced a new deal with the NFL

I've just scratched the surface but it appears that Microsoft is trying to make Xbox the Swiss Army Knife of set-top devices. It seems the company is offering all sorts of functionality on the hope that buyers will decide which features are most appealing.

If everything works as described, the Xbox One could be another big success, and therefore a big problem for Sony's (SNE - Get Report) new PlayStation 4. Since Xbox has been such a long-term financial success this new version could go a long way toward improving sales for related Microsoft products like Windows 8, RT and Windows phone devices.

We'll know soon enough. They're promising Xbox One will be in stores in time for the 2013 holiday shopping rush. No pricing has been announced.

Microsoft was falling 0.7%, to $34.60 in mid-morning trading.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.
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