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The Xbox One is an upcoming video game console from Microsoft. Announced May 21, 2013, it is the successor to the Xbox 360 and the third console in the Xbox family of consoles. The Xbox One will directly compete with Sony's PlayStation 4 and Nintendo's Wii U, as part of the eighth generation of video game consoles. imilarly to the PlayStation 4, the Xbox One will feature compatibility with the x86-64 instruction set, a Blu-ray Disc drive and 8 GB of unified memory in the form of high performance DDR3.
The new Kinect will have "wake with voice" for the Xbox console. It will have a 1080p camera compared to the VGA sensor on the original Kinect.
Microsoft will introduce a feature that allows its next generation console take over a TV and set-top box in similar way to Google TV. The Xbox One will take a cable box signal and pass it through to the TV via HDMI, allowing Microsoft's console to overlay a UI and feature on top of an existing TV channel.
Included in the system is a digital video recorder (DVR) which allows the recording of gameplay.
@Wikipedia
Since it's not backwards compatible and XBOX-Live still has a monthly cost, I'm not getting it. PS4 here I come!