The new XBox, called the Xbox One, is set to change the landscape of home entertainment by combining many of the products that have become readily available since the release of the Xbox 360. The new models will all be equipped with Kinect.
Microsoft is also placing higher value on TV and interaction. From the New York Times:
Microsoft plans to develop its own original, live-action television series, which will be accessible through the Xbox. The series will be made in partnership with the director Steven Spielberg and will be based on the popular Halo video game franchise.
The company is also working with the National Football League to develop an app for Xbox that lets players interact with their fantasy football teams while watching a live game.