陌生又熟悉 今年最重要的游戏掌机，当然是任天堂 Switch 2 无疑，但第二重要的，我认为当属将于今年 10 月 16 日正式发售的 ROG Xbox Ally。 这款产品在硬件参数上只能说是一款配置高端的 PC 掌机产品，真正重要的，是它里面搭载的系统——微软专门为掌机产品优化过的 Xbox 版本 Windows。 因此这款产品能引发这么多关注也不奇怪了，因为它很可能将为 Windows 掌机翻开崭新的一页。 至于定价如何，华硕和微软称，还「需要多时间来弄清楚宏观经济对定价的影响」，因此暂未公布产品售价。 网上有爆料称，中端的 ROC Xbox Ally 售价 599 欧元，折合人民币约 4986.68 元；高端的 ROC Xbox Ally X 售价 899 欧元，折合人民币约 7486.73 元。 还是 Windows，但要好一点 The Verge 编辑拿到 ROG Xbox Ally 后，第一件事并不是马上启动游戏开玩，而是将设备重启，看看微软如何将 Windows 隐藏在 Xbox 界面之下。 开机后，ROG Xbox Ally 显示的就是正常的 Windows 登录界面，不过现在可以使用手柄输 ...

今年最重要的游戏掌机，当然是任天堂Switch 2无疑，但第二重要的，我认为当属将于今年10月16日正式发售的ROG Xbox Ally。 这款产品在硬件参数上只能说是一款配置高端的PC掌机产品，真正重要的，是它里面搭载的系统——微软专门为掌机产品优化过的Xbox版本 Windows。 因此这款产品能引发这么多关注也不奇怪了，因为它很可能将为Windows掌机翻开崭新的一页。 至于定价如何，华硕和微软称，还"需要多时间来弄清楚宏观经济对定价的影响"，因此暂未公布产品售价。 网上有爆料称，中端的ROC Xbox Ally售价599欧元，折合人民币约4986.68元；高端的ROC Xbox Ally X售价899欧元，折合人民币约7486.73元。 还是Windows，但要好一点 The Verge编辑拿到ROG Xbox Ally后，第一件事并不是马上启动游戏开玩，而是将设备重启，看看微软如何将Windows隐藏在Xbox界面之下。 本文来自微信公众号：爱范儿 （ID：ifanr），原文标题：《首款"Xbox掌机"能玩了，瘦身版 Windows 带来了什么改变？》，题图来自：AI生成 为了让玩家避免回到完整的W ...

Gaming handhelds will be on show for the very first time at Gamescom 2025 KEY POINTS TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- ASUS Republic of Gamers (ROG) today announced that ROG Xbox Ally and ROG Xbox Ally X — featuring cutting-edge AMD Ryzen™ Z2 Series processors — will be available on shelves on October 16, 2025. Both new gaming handhelds will be available to try out for the first time on the show floor of Gamescom 2025. ROG will have a massive presence at Gamescom 2025, boasting a full lineup of 202 ...

Core Insights - The Roundhill Video Games ETF NERD is experiencing significant growth in 2025, primarily driven by the successful launch of Nintendo's Switch 2 console [1][2]. Nintendo - The Switch 2 launched at a price of $449, which is $150 higher than the original model, yet it achieved remarkable sales, with 3.5 million units sold in the first four days, marking the fastest start for any console in Nintendo's history [2][3]. - Nintendo's management is projecting to ship 15 million consoles in the current fiscal year, which is expected to increase revenue by over 60% and operating profit by around 13% [3]. - Nintendo is the largest holding in the Roundhill Video Games ETF, comprising 12.1% of its assets, with a focus on monetizing intellectual property beyond traditional game sales [4]. Electronic Arts (EA) - EA's sports titles, particularly Madden and College Football, are significant revenue drivers, with expectations of a college basketball franchise potentially generating $300 million in bookings [7][8]. - The return of a college basketball game could conservatively sell four million titles, enhancing gamer engagement during off-seasons [8]. GameStop - GameStop is excluded from the Roundhill Video Games ETF due to its focus on tracking the Nasdaq CTA Global Video Games Software Index, which does not include physical retailers [9]. - GameStop's financial performance, characterized by double-digit revenue declines and volatility disconnected from fundamentals, further disqualifies it from ETF inclusion [10]. ETF Performance - The Roundhill Video Games ETF closed at $25.94, reflecting a year-to-date increase of 31.3% in 2025 and a 57.7% rise over the past year [10].

Core Viewpoint - The gaming market is experiencing significant developments with new hardware releases and a shift in strategy from traditional console sales to a service-oriented model, particularly by Microsoft [1][2][4][13]. Group 1: Market Developments - The release of Switch 2 has sparked discussions, while Sony has announced new games and confirmed the development of PS6 [1]. - Microsoft has introduced new hardware, including ROG Xbox Ally and Meta Quest 3S Xbox Edition, marking its entry into handheld gaming and VR [2]. - Microsoft is also developing a next-generation Xbox console in collaboration with AMD, which will not be exclusively tied to the Xbox game store [4]. Group 2: Xbox's Strategic Shift - The upcoming next-generation Xbox console may be Microsoft's last traditional console product, indicating a potential shift away from hardware-centric gaming [5]. - Xbox will continue to exist but will operate more as a brand and service rather than being deeply integrated with Microsoft [6]. - The strategy mirrors the Windows model, where Microsoft provides software and game libraries while OEMs design the hardware [7]. Group 3: Xbox's Performance and Challenges - 2024 is projected to be a challenging year for Xbox, with console sales expected to be below 3 million units, leading to significant layoffs and studio closures [9]. - In contrast, competitors like Nintendo and Sony have seen success with their consoles, while Xbox Series X/S has underperformed [10]. Group 4: Gaming Consumption Trends - The rise of smartphones as versatile entertainment devices poses a challenge for traditional gaming consoles, making it difficult to convince consumers to invest in dedicated gaming hardware [11][12]. - Microsoft's approach focuses on selling game services rather than hardware, promoting a "play anywhere" philosophy [13][15]. Group 5: Game Pass and Future Directions - Xbox Game Pass is a key component of Microsoft's strategy, aiming to make gaming accessible across various devices, not limited to Xbox hardware [24]. - The ultimate goal is to have Xbox Game Pass available on all platforms, similar to how Apple Music operates across different systems [25]. - Microsoft's strategy includes partnerships and collaborations rather than solely relying on its own hardware development [26]. Group 6: Brand Identity and Future Considerations - The evolving concept of "Xbox" raises questions about its identity as it encompasses various devices and services, which may confuse consumers [30][31]. - There is a concern about the future of the Xbox brand, as it may become merely a game launcher or a collection of game studios rather than a distinct gaming platform [32]. - The company must consider profitability and sustainable business models moving forward [33].

Core Insights - Microsoft's gaming business is experiencing significant growth, with gaming revenues increasing by 5% year over year in Q3 FY25, contributing 8.2% to total revenues [2][10] - Xbox content and services revenues rose by 8%, indicating strong performance in this segment [10] - The company is expanding its gaming ecosystem through AI integration, new hardware, and cloud gaming initiatives [3][5] Gaming Revenue Growth - PC Game Pass revenues surged over 45% compared to the previous year, showcasing strong demand for subscription services [3] - Cloud gaming reached a record of over 150 million hours played in the quarter, reflecting growing user engagement [3][10] New Hardware and AI Integration - Microsoft is set to launch two Xbox handheld devices in collaboration with Asus, targeting different gamer segments [4] - The introduction of AI features like Copilot for Gaming and the Muse model aims to enhance player experience and engagement [3][5] Competitive Landscape - Microsoft faces stiff competition from Sony and Nintendo, which continue to lead in exclusive titles and user engagement [6][7] - The competitive pressure necessitates ongoing innovation in cloud gaming, Game Pass, and hardware offerings [7] Stock Performance and Valuation - MSFT shares have increased by 11.7% year-to-date, outperforming the broader software industry [8] - The forward 12-month Price/Sales ratio for MSFT is 11.24X, higher than the industry average of 9.30X, indicating a premium valuation [12]

Core Viewpoint - Microsoft is entering the handheld gaming console market with the launch of the ROG Xbox Ally and ROG Xbox Ally X, aiming to compete with Nintendo's recently released Switch 2 [1][2]. Group 1: Product Launch and Features - The ROG Xbox Ally handhelds will enable cross-device gameplay, allowing gamers to play "anytime, anywhere, on any device" [2]. - The ROG Xbox Ally X will feature the AMD Ryzen AI Z2 Extreme processor, while the standard ROG Xbox Ally will use the AMD Ryzen Z2 processor [4]. - The Nintendo Switch 2 utilizes a chip from NVIDIA, a leader in AI chips and GPUs, highlighting a key difference in hardware between the two consoles [4]. Group 2: Market Context and Competition - Nintendo has historically dominated the handheld market with successful consoles like the Game Boy, Nintendo DS, and Nintendo Switch [3]. - Microsoft aims to capture market share in both physical and handheld console segments, intensifying competition with Nintendo starting in 2025 [6]. - The new Microsoft handhelds are expected to launch in time for the holiday season in 2025, which is a peak shopping period for gaming consoles [5]. Group 3: Strategic Partnerships - Microsoft has partnered with Roblox to make its games playable natively on the new handhelds, marking a significant development for both companies [4]. Group 4: Financial Performance - Microsoft stock closed at $472.75, up 0.50%, and reached an all-time high of $473.43 during intraday trading, reflecting a 13% increase year-to-date in 2025 [6].

Core Points - ASUS Republic of Gamers (ROG) has announced a new series of handheld gaming devices, the ROG Xbox Ally and ROG Xbox Ally X, developed in partnership with Xbox, focusing on ergonomics and user experience [3][4] - The devices feature advanced processors, with the ROG Xbox Ally using the AMD Ryzen™ Z2 A Processor and the ROG Xbox Ally X utilizing the AMD Ryzen™ AI Z2 Extreme Processor, aimed at delivering high performance for gaming [4][9] - Both handhelds will launch in holiday 2025 across select markets, with plans for broader availability [4][13] Design and Comfort - The ROG Xbox Ally series boasts a completely redesigned chassis for improved comfort, inspired by Xbox controllers, ensuring a better grip and gaming experience [5][7] - The ROG Xbox Ally X includes impulse triggers for enhanced haptic feedback, providing a more immersive gaming experience [6][7] Software Experience - The new Xbox software integrated into the handhelds aims to create a seamless gaming experience, combining Xbox and Windows PC gaming capabilities [8] - Players will have immediate access to a full-screen Xbox experience upon powering on the device, with optimized software for easy navigation and access to settings [8] Performance and Efficiency - The ROG Xbox Ally X is designed for next-gen gaming performance, leveraging the AMD Ryzen AI Z2 Extreme Processor and software optimizations for AAA games [9][10] - Both devices feature improved battery life due to their efficient designs, with the ROG Xbox Ally having a 60Wh battery and the ROG Xbox Ally X featuring an 80Wh battery [10][17] Specifications - ROG Xbox Ally X specifications include a 7" FHD display, 24GB LPDDR5X memory, and 1TB SSD storage [15][16] - ROG Xbox Ally specifications include a 7" FHD display, 16GB LPDDR5X memory, and 512GB SSD storage [17]