After the remarkable success of Sony's Playstation, Microsoft began work on what was called the "X-Box Project". The X-Box Project gradually expanded and expanded, finally becoming what we now know as the XBox. This console was released on November 15, 2001 (US), February 22, 2002 (Japan) and March 14, 2002 (Europe).
Since its release, the Xbox has become an extremely popular console, selling over 22 million units as of 2005.