Microsoft has unveiled its new home game console, the Xbox One.

Xbox One will be cloud-based and the company is pitching it as an all-in-one games console and entertainment centre. It will integrate with your existing cable or satellite set-top box for live television.

It has an 8-core CPU, 8GB of RAM, 500GB hard drive and Blu-ray with the controller design being very similar to the current Xbox 360 controller.

Microsoft were very keen at yesterday’s launch event to play up the live television element of the system over and above the gaming.

Microsoft president of interactive entertainment Don Mattrick telling the audience “For the first time, you and your TV are going to have a relationship.”

The Xbox One has a redesigned Kinect sensor which captures video at 1080p and 60 frames per second.

This new sensor can detect movements like wrist rotations and how the body shifts weight. This sensor can be used for voice activation to turn on the system and navigating through the system options.

The Xbox One also has Skype letting user make HD video calls via their television.

The system will be launched around the world later this year with no price announced.