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Microsoft
It will be called the Xbox One and gaming fans can expect to plug theirs in before the end of the year.
Perhaps the greatest nugget of news was not the fact the Kinect system has been vastly improved or that the Xbox One now plays Blu-rays but the fact Forza - one of the greatest driving simulators ever made - will return to the next-gen console.
Microsoft business developer Phil Spencer said the studio behind the new game has "taken the best of Xbox One to redefine the series".
Industry insider say the studio behind the new Forza has taken the franchise apart and rebuilt it from the ground up to "offer gamers a better sensation of being behind the wheel."
Further details will begin to trickle through as hype builds for the Xbox One release date before the end of the year but until then, you can salivate over the trailer below