I don't imagine Microsoft is going to release any more gaming hardware. They've lost so thoroughly to Sony that they need to bring first party games to that platform now to be profitable, and competing with Nintendo in the handheld space has been a losing prospect for 30 years. Even if they're looking at the 'premium' handheld space, there's already entrenched competitors that people wouldn't be eager to move on from today, let alone 'X' # of years in the future when they'd finally get something to market. Everything they've done in 2024 has so far indicated they're (slowly) transitioning to being a third party publisher, a space where they could be the biggest and make a ton of money.
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