After a lot of back and forth, rumors and denials, Microsoft has now confirmed that the name of its new brand of multimedia devices will be Zune. As expected, the project will focus on music primarily - at least for the time being. As hinted in an interview with Billboard Magazine, depending on the success of the devices, a gaming-oriented Zune product might eventually see the light of the day. But it's safe to say that for now, Microsoft aims to compete with Apple, not Sony and Nintendo.

Chris Stephenson, General Manager at Microsoft, commented, "Under the Zune brand, we will deliver a family of hardware and software products, the first of which will be available this year. We see a great opportunity to bring together technology and community to allow consumers to explore and discover music together.”

The first incarnation of Zune is set to arrive within the year, and employees working on the project have noted that with Zune, Microsoft is approaching multimedia in a holistic way, providing not only connectivity with as many Windows-powered devices as possible, but perhaps more importantly, trying to build a community, a social music network that enables users to connect with others to "discover new music and entertainment".