Xbox One X
Image Courtesy: Microsoft.com

Microsoft is working on another Xbox console, and the company is fully committed to video game consoles. During yesterday’s Microsoft E3 2018 press conference, Phil Spencer discussed the future of gaming at Microsoft, and the next generation Xbox One console.

While Phil Spencer currently can’t say more about the next Xbox console, but he confirmed that Microsoft remains committed to the gaming business, and we should expect the next console to have backward compatibility.

“Why other people might not want to say, hey, there could actually be another console, when we all know there likely is, is because it’s a, hey, I need to keep people buying the console that’s there,” he said.

Microsoft buys four game studios

Microsoft recently announced that it’s buying four different game studios, to expand the range of exclusive titles for Xbox One. The new team will be “creating groundbreaking new worlds, characters and game experiences.”

Microsoft said that it’s also taking over Playground Games, and it’ll work on a new project. Playground Games Limited is a British video game developer located in the United Kingdom, and the maker of the Forza franchise. Microsoft is also acquiring Ninja Theory, Undead Labs and Compulsion Games.

The big bet on the gaming industry

The analysts recently said Microsoft is going to be the Netflix of Gaming, and the company’s investment in the gaming industry is also projected to help the software giant in the road to $1 trillion market cap.

“We see Microsoft building out the ‘Netflix of Gaming,'” Morgan Stanley analyst Keith Weiss was quoted as saying in a note to investors. “We think that gaming has historically been largely ignored, misunderstood, and undervalued by analysts and investors.”