Microsoft (MSFT) will launch its next-generation Xbox video game and home entertainment console ahead of the holidays this year, and the device will have big shoes to fill. Further solidifying its position among the best-selling consoles of all time, Microsoft’s director of programming for Xbox Live Larry Hryb announced on Twitter Monday evening that cumulative Xbox 360 console sales have surpassed 76 million units. Hryb also said Kinect sales have topped 24 million units and Xbox Live now hosts 46 million paying subscribers. Microsoft’s Xbox 360 is currently the fourth best-selling home video game console of all time behind Nintendo’s (NTDOY) Wii at No.3, and Sony’s (SNE) PlayStation and PlayStation 2 consoles at No.2 and No.1, respectively.

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Rumors have been circulating about Microsoft’s (MSFT) next-generation Xbox for quite some time now. Earlier reports suggested that the console may require an always-on Internet connection that could block used games and others claimed it could even include Siri-like voice controls. According to a new report from Kotaku, the Xbox 720 will be capable of running multiple games and services at once by allowing users to “suspend” their current game and switch to a second one without losing their place in the first one. The system is also said to require games to be installed directly to the hard drive, and may also ship with a Kinect sensor that has to be “plugged in and calibrated for the console to

Information surrounding Microsoft’s (MSFT) next-generation Xbox leaked earlier this week and suggested that the system will require an always-on Internet connection. The report also reinforced earlier rumors that claimed Microsoft’s new console would be unable to play used games. Speaking to Bloomberg on Friday, GameStop (GME) spokesman Matt Hodges cited a company survey that found consumers would be less likely to buy a console that limits trading in pre-owned games. “We know the desire to purchase a next-generation console would be significantly diminished if new consoles were to prohibit playing pre-owned games, limit portability or not play new physical games,” Hodges said. Microsoft is expected to unveil its next-generation Xbox at the E3 gaming conference this summer. The console is

Sony (SNE) is scheduled to announce its next-generation PlayStation 4 console at a press conference in New York City on February 20th. Recent rumors have pegged the system as a gaming powerhouse with 16GB of RAM, 256GB of storage, and 1080p HD resolution in 3D at 60 fps, however this may not be what the company is aiming for. According to a report from the Nikkei, Sony hopes the Playstation 4 will act more as a home entertainment “nerve center” than a dedicated gaming system. An unnamed company executive reportedly said that the console’s main selling point won’t be its high-end specs, but rather the new styles of play it will introduce and its ability to connect and share to mobile devices. The PlayStation 4

The Wii U made a splash with its personal tablet controllers. Sandwiching a 6.2-inch touchscreen in between a regular analog stick and buttons, the Wii U's GamePad is like a Nintendo DS' lower touchscreen for a home console, and even lets you play games right on its screen. It streams those games from the Wii U itself, though, meaning it's basically useless when it's out of range of the console.

Microsoft’s (MSFT) Xbox 360 video game and home entertainment console already supports voice commands thanks to the Kinect controller, but it looks like we may see the company’s next-generation console ship with dramatically improved voice support. The Verge reported on Thursday that Microsoft’s upcoming Xbox refresh will support “wake on voice, natural language controls, and speech-to-text,” citing claims from multiple unnamed sources when reporting the details. The enhanced voice support will supposedly allow users to speak commands naturally as they do with Siri on Apple (AAPL) devices. Microsoft’s next Xbox is expected to launch ahead of the holidays this year featuring a 1.6GHz eight-core AMD CPU, D3D11.x 800MHz graphics and 8GB of RAM.

Sony’s (SNE) next-generation PlayStation 4 console is set to be unveiled during a press conference on February 20th and while pricing details are not expected at the event, a new report claims to shed light on the upcoming console’s cost. According to the Japanese paper The Asahi Shimbun, Sony’s new console may cost more than 40,000 yen, or $426 USD, when it launches ahead of the holidays this year. Pricing may vary by region, and an earlier report suggested that the next-generation Sony console will cost between $350 and $400. The PlayStation 3 was priced at $599 when it launched seven years ago in 2006.

LOS ANGELES (AP) — Austin Wintory still can't wrap his head around the fact that he's up against "Star Wars" composer John Williams for a Grammy Award.

Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:NYSERalph Lauren Corp., up $9.72 at $174.63With rising sales of its designer clothing, ...

Battered shares of Zynga Inc. showed some improvement on Wednesday after the "FarmVille" maker's fourth-quarter earnings surpassed muted expectations. Old-school video game maker Take-Two Interactive ...

The mystery surrounding Sony’s (SNE) PlayStation 4 will soon dissipate when the company unveils its next-generation video game console on February 20th. Meanwhile, Microsoft’s (MSFT) upcoming rival console is still very much a mystery, though pieces of the puzzle continue to come together. The latest report comes from Edge, which cites multiple unnamed people with “first-hand experience of Microsoft’s next generation console” in claiming that the new Xbox will require an always-on internet connection to check disc registration in order to function. The report reinforces earlier rumors that Microsoft will restrict or even completely block owners’ ability to play used games. Edge also reaffirms specs reported earlier, including a 1.6GHz eight-core AMD CPU, D3D11.x 800MHz graphics and 8GB of RAM, and it

Shares of Zynga climbed in premarket trading on Wednesday as the online games company's fourth-quarter adjusted profit and revenue topped analysts' estimates.Zynga Inc. reported late Tuesday that its quarterly ...

SAN FRANCISCO (Reuters) - Zynga Inc, the one-time Silicon Valley darling that has been wrestling with a months-long exodus of online gamers, reported an unexpected fourth-quarter profit on Tuesday after embracing steep cost cuts and shifting forward deferred revenue. The results assuaged investors who had feared the company might be in free fall and boosted Zynga's shares by 7 percent to $2.93 in after-hours trade. Still, the company reported fourth-quarter revenue of $311 million, virtually unchanged from a year earlier and down from the prior quarter. ...

NEW YORK (AP) — Online games company Zynga said its loss narrowed in the latest quarter even though revenue was largely unchanged as the company cut expenses by laying off workers, closing offices and shutting down poorly performing games.

NEW YORK (AP) — Online games company Zynga said its loss narrowed in the latest quarter even though revenue was largely unchanged as the company cut expenses by laying off workers, closing offices and shutting down older games.

Great news for Xbox users: You’ll soon have yet another video streaming service competing for your dollars. Microsoft (MSFT) Xbox Live programming director Larry “Major Nelson” Hryb announced on his website Tuesday that “Redbox Instant by Verizon (VZ) will be coming to Xbox 360 in the very near future” and that Redbox Instant beta participants will soon receive an access code that will let them use the Redbox app on their Xbox consoles. Hryb also said that the Xbox will be “the exclusive gaming and entertainment console launch partner for Redbox Instant,” so don’t expect to get Redbox on your PlayStation 3 or Wii U in the near future. Verizon plans to launch Redbox Instant in March, when it will initially offer users

STOCKHOLM (Reuters) - Sweden coach Erik Hamren compared his captain Zlatan Ibrahimovic and Argentina's Lionel Messi to their video game counterparts as the teams prepare to meet in a friendly on Wednesday. "Both of them are like players you see in those video games," Hamren told a news conference at the Friends arena where Sweden meet Argentina on Wednesday in front of a sell-out crowd. "They do things you don't think it's possible to do. Two extremely talented and really, really good football players. ...

STOCKHOLM, Feb 5 (Reuters) - Sweden coach Erik Hamren compared his captain Zlatan Ibrahimovic and Argentina's Lionel Messi to their video game counterparts as the teams prepare to meet in a friendly on Wednesday. "Both of them are like players you see in those video games," Hamren told a news conference at the Friends arena where Sweden meet Argentina on Wednesday in front of a sell-out crowd. "They do things you don't think it's possible to do. Two extremely talented and really, really good football players. ...

LOS ANGELES (AP) — The creators of "The Last of Us" aren't planning to tone down the post-apocalyptic video game's violent content, including a young, knife- and gun-wielding girl.