Microsoft has announced Xbox One, due for release globally at the end of 2013.

Xbox One is the third video game console from Microsoft, following on from 2001's Xbox and 2005's Xbox 360.

Microsoft revealed the Xbox One alongside a redesigned controller and all-new Kinect camera.

Microsoft describes Xbox One as the "all-in-one experience", a "rocket science-level" device that lets users view live TV, and access games, movies and music.

Though the system specs have yet to be fully detailed, the console features 8GB RAM, 500GB HDD, Blu-ray drive and introduces "a completely redefined Xbox LIVE".

For more details on the console, click the fact sheet below or take a look at the first official hi-res photos.

Xbox one factsheet

Using Kinect voice commands, Xbox One lets users instantly switch between different types of entertainment. New 'swipe' and 'grab and pan' hand gestures also let users easily navigate the console's user interface, and interact between different forms of media without the need to close applications.

The console even lets players pull up fantasy teams, browse highlight videos or league standings while watching live TV. For example, viewers watching basketball can quickly access highlight reels that display alongside the live TV.

Users can quickly hop between TV channels simply by saying their name, too.

The next-gen console was revealed during Microsoft's Xbox Reveal event currently underway in Redmond, Washington.

A price for Xbox One has yet to be announced, but early retailer listings suggest the console could launch for around £399.