The Xbox brand is a video gaming franchise owned and produced by Microsoft. The company includes five video game consoles, applications (games), streaming services, an online service known as the Xbox network, and the development department called Xbox Game Studios. The original Xbox console was initially revealed in the United States in November 2001; the brand was formally established in June 2002 with the release of its second console. After the Atari Jaguar stopped selling in 1996, Nintendo released the first video game console produced by an American firm. By May 2006, it had sold over 24 million units. Microsoft's second home console, the Xbox 360, debuted in 2005 and has thus far sold 86 million units. The Xbox One was released in November 2013 and has sold 51 million units as of March 2019. The fourth generation of Xbox consoles, called the Xbox Series X and Series S, were launched in November 2020. Phil Spencer is the current head of Xbox, having taken over from Marc Whitten in late March 2014.