Live from the stage of the Redmond campus in Washington, Microsoft's Don Mattrick reveal to the world the new Xbox, direct to an eager crowd of journalists and industry insiders, as well as millions of people watching at home.
Mattrick opened up proceedings, taking us on a trip down memory lane, recalling previous experiences with Xbox Live, Xbox 360 and Kinect ("We believed in a connected future and made an early bet on Xbox Live"). They also revealed that at E3 they'll be showing what's in store for Xbox 360.
We're promised an entertainment hub, with Microsoft's man explaining: "The living room has changed rapidly over the last 8 years."
He then went on to reveal that the console was to be an all in one system. With games, TV and entertainment. Hardware, software and services that put you the gamer at the center. "Simple, instant and complete."
The console is built for the future, with everything integrated into one machine. It has an elegant design; cool sleek edges with a shiny finish. Kinect is similarly angular, and the new controller looks great (if a little similar to the one we all know and love).
Then he revealed the name of the new console: Xbox One.