Microsoft finally showed us its new next gen console today in the form of the Xbox One. The system sports some new features like multitasking between apps like movies and Skype, and live TV integration (including deals with Comcast and the NFL). The box has an 8 core processor and 8 GB of ram with a 500 GB non-removable hard drive. Though the video card was not mentioned, we know it supports BluRay and video output up to 4k.
The console will require an Internet connection, but not "always online" capability. Used games can be played, but there's a fee associated with playing these games (similar to EA's now retired online pass program). Like the PS4, the system will not be backwards compatible. Microsoft claims 15 exclusive games, including 8 new franchises will be available within a year of its launch later this year.