Microsoft is promising a huge showcase at the upcoming E3 conference. It's not entirely certain what the software giant might have in store, but we have a feeling the Xbox One Slim could make an appearance.

The Xbox One was released back in 2013, but has failed to live up to expectations and has been unable to keep up with the Sony PlayStation 4. Sony has done a splendid job with its console, along with how the system was billed to eager gamers. Microsoft faltered because of this and is finding difficulty clawing back lost market share.

It has been thoroughly demonstrated that bringing a Kinect-less Xbox One to the market for $399 does not work, and cutting the price to $349 only achieved a small improvement. The Sony PlayStation 4 is still at its starting price of $399 and selling much better than the cheaper Xbox One.

Probably the best option for Microsoft right now is to announce an Xbox One Slim at E3 and make it available days or weeks thereafter. Microsoft could also announce a $299 price tag for the slim — but we doubt that would be the way to go. Chances are, the plan could be making it $349 and phasing out the current option. The Xbox One version with Kinect could slip to $399 — and right away, the software giant could have a winner on its hands.

Apart from just the size and overall design, the Xbox One Slim would have to come with a 1TB hard drive. Then again – considering the problems Microsoft is facing right now – an Xbox One with a 1TB hard drive at $349 seems like a stretch, but not impossible.

As for Sony, the company is on a roll and doesn't need to release a slim PlayStation 4 anytime soon. It is entirely possible that the system could overcome an Xbox One slim. That alone would prove consumers have made their choice in the console wars.

E3 2015 kicks off on June 16 and runs through June 18. Microsoft's press conference will come first, followed by Sony. Nintendo is continuing its trend of not holding a press briefing.

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