We heard news from Xbox headquarters regarding new features and specs of their new machine. Said to release close to a year after the Wii, sales are clearly calling for a new machine. Although still a high selling product, sold more units than new Wii console this thanksgiving weekend, users have made it very clear they’re ready and its time for new equipment. Hit the jump, looks like we got a date.

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The new version will debut a year after Nintendo Co’s brand-new Wii U, which went on sale Nov. 18 in the U.S.

While Xbox 360 had a strong Thanksgiving week, there are signs the console market is overdue for updates to boost sales, which have been declining. U.S. retail sales of video-game software, hardware and accessories dropped 25 percent in October from a year earlier to $755.5 million, according to researcher NPD Group Inc. While Microsoft has led in console sales in the U.S. for the 22 months through October, its monthly sales have been declining, NPD said.

Since the release of the Xbox 360 in 2005, the gaming market has changed, as casual games played on tablets and phones gain in popularity. Microsoft introduced full-body motion controls to console gaming with the Kinect. More than 40 million of the 70 million Xbox 360 customers also have Xbox Live online subscriptions, many of which are used to watch TV and movies, rather than play games.