Microsoft has no plans to get out of the console business anytime soon. The company has been reiterating for a while that it's going to make at least one more generation of Xbox consoles. It's now been confirmed that AMD will power the upcoming hardware,

Xbox president confirmed that Microsoft has established a “strategic multi-year partnership” with AMD to co-engineer silicon across a range of devices

Microsoft has officially confirmed that the next-generation of Xbox consoles is in the works and it's more than just a new box under your TV.