Xbox is hosting a new digital event on May 7, which will give viewers new information about the company's next console, currently codenamed Project Helix. Project Helix will be the next official console from Xbox, acting as the successor to the Series X/S. A number of rumors have circulated about the system over the past few months, which is expected before full details are announced.
Earlier this month, Xbox dismissed rumors that Project Helix would be a third-party device similar to the ROG Xbox Ally. Xbox VP of next-gen Jason Ronald personally stepped up to correct the speculation, noting that it will be a first-party console. This means it's built in-house on Xbox rather than by a partner company like ASUS. There are also rumors that Xbox will allow outside groups to offer their own Helix products, but nothing has been confirmed.

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When is Xbox's Project Helix event?
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Thursday, May 7, 9 a.m. PT
The new Xbox Digital event will stream on May 7 at 9 a.m. PT on the company's YouTube channel. The event is called “Game Dev Update” and Jason Ronald and Xbox GM Portfolio and Programs Chris Charla will be on hand to introduce Project Helix. The event will focus on many other elements that may be important to Xbox's partners, including developer tools, changes in the marketplace, and more. In addition to all that, viewers can expect to see a recap of Xbox's announcements from GDC.
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At this time, it is unclear how much of the program will be devoted to Project Helix. However, the system is already getting a lot of promotion, with Xbox sending out Project Helix gift packages to streamers. This suggests that Xbox is ready to start the hype cycle for the new system, even if it won't be released for a while. Hopefully, the company will provide some solid information, getting fans and developers excited about what's in store for the future.
There are many concerns for Xbox on the new console front. For one thing, the Xbox Series X/S struggled to find an audience, and the last few years have been tough for the brand. There has been a lot of uncertainty surrounding Xbox, in large part due to the company's changing strategy and messaging. Xbox is going to win back consumers, and that could be a challenge. Additionally, memory shortages can increase the price of a new Xbox system. There have already been several price hikes for the Xbox Series X/S, and fans are concerned about how much Project Helix will cost.
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Right now, little information about Project Helix has been revealed publicly. New Xbox boss Asha Sharma says Project Helix will play both Xbox and PC games. This can make the system appeal to more people, while expanding the games the system can play. Whether this will be enough to generate interest in the console remains to be seen, but it should help it stand out even more, something the Xbox Series X/S failed to do. Fans will want to tune in to the show on May 7 to see if anything significant will be revealed on Xbox.