VIDEO: Microsoft reveals next-generation Xbox — Xbox One

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Microsoft thinks it has the one.

The company says the Xbox One, its next-generation entertainment console, will go on sale later this year.

The company is seeking to stay ahead of rivals in announcing that new content that can be downloaded for the popular "Call of Duty" game will launch first on Xbox One.

Microsoft says more games will be shown at next month's E3 video game conference in Los Angeles.

Microsoft executives are also touting the Xbox One as a replacement for the set-top box from your cable provider. It has its own guide and you can change channels by voice command.

The announcement came Tuesday at a presentation at its headquarters in Redmond, Wash.

This story has been updated.

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