I believe Microsoft was caught by surprise by Sony February announcement. Microsoft was never ready for such an announcement and tried to scramble around to get their pieces together. You may think that this is not accurate, but I can prove it:
1- Microsoft had a countdown page leading to E3 where it was expected that next generation console will be announced. Sony's announcement forced them to show the console earlier than expected and shifted focus away from E3.
2- Many rumors indicated that Microsoft is 6 months behind in games development and forced Microsoft to start looking for buying 3rd party games exclusives like Respawn game.
3- MS conference was rescheduled from late April to late May which indicates that MS is not ready.
As for the 21st May 1 hour announcement, i really don’t expect much from Microsoft. Let me make some predictions:
- New Forza or Project GR game
-Respawn game
- Maybe a new Fable game
- New call of duty.
- Destiny from Bungie
-Some Kinnect games.
- Console and specs will be revealed
- TV Entertainment and apps
Should be enough to cover in a one hour conference.
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