Phil Spencer: Microsoft 'absolutely' plans on releasing future console hardware

Xbox chief Phil Spencer has indicated that Microsoft still intends to release new consoles following the launch of the Xbox Series S and Xbox Series X. 

When asked about Microsoft's hardware plans moving forward during a Yahoo! Finance interview, Spencer said he "absolutely" believes we'll see the company launch new consoles further down the line. 

"In terms of future hardware, absolutely I think we're going to see more console hardware down the road," explained Spencer. "Just like in video, just like in music, it's not that streaming has cut off device innovation. I think we'll continue to see that, and that's absolutely what we're planning for."

It might sound like a predictable answer, but given Microsoft has spent the past few years investing heavily in its subscription service and cloud streaming technology, it's interesting to hear that the company isn't planning on ending its love affair with hardware anytime soon.

The company's next two consoles, the all-digital Series S and flagship Series X, will launch on November 10, and will be available to purchase via affordable financing options that include access to Xbox Game Pass Ultimate.

The subscription sevice offers access to over 100 titles, including all first-party releases, Xbox Live Gold multiplayer, EA Play, and xCloud game streaming -- and is due to become an even hotter prospect following Microsoft's mammoth $7.5 billion purchase of Bethesda owner ZeniMax Media.