MICROSOFT has shown off its next generation console - the Xbox One.

The third generation Microsoft console features an eight-core processor, eight GB of DDR3 RAM, a Blu-ray drive and a 500GB hard drive.

It was revealed at a special conference at the firm's Redmond HQ yesterday evening UK time, just over eight years after its predeccesor, the XBox 360, was unveiled.

Microsoft says the new console will be released later this year, although it has not said how much gamers can expect to pay.

The firm hopes to put the XBox One at the heart of the living room, and boast that the device will allow users to control TV with just their voices, via a second generation Kinect, which comes as standard.

The Kinect also features improved facial recognition and can even read a player's heartbeart, according to Microsoft.

The One also allows users to chat to one another on Skype as they play games, or even watch TV or online videos, via an ability to run two things at once on the same screen.

The new machine is not backwards compatible with existing Xbox games, due to it having a completely different type of architecture.

Further more, all games must be installed to the HDD and individual discs will be tied to a users XBox Live account.

If a gamer lends or sells the game, the second user will have to pay a fee, to be able to play the game. This would be a blow to gamers who lend games to friends or trade-in their used games to finance new purchases.

However, the console will not require an always on internet connection, as had been rumoured.

EA Sports have said they will offer exclusive content for XBox users. For example the Ultimate Team mode will only be available on the XBox One version of FIFA 14.