E3 2017 has just come to an end, and the event delivered its fair share of new games and other gaming materials. However, after the event, Atari CEO Fred Chesnais announced that the company was working on a new console system. The new console has been named the “#Ataribox.”

The announcement came roughly four years after the company filed for Chapter 11 bankruptcy. However, many are questioning the company's move of launching a new console when the PS4, Xbox One, and quite recently, the Nintendo Switch have all created a niche for themselves. These gaming consoles are extremely popular in the gaming community and #Atari will undoubtedly face stiff competition if they want to make a place for themselves in the market.

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The company also released a teaser trailer showing off its upcoming console, the Ataribox.

The Ataribox console

The teaser reveals the polished wood paneling which has been a trademark of the company since their Atari 2600 console. However, very little was revealed in the 22 second teaser. The video states that the console has been in the making for a long time and that it will be arriving soon, without giving away a concrete date of release.

Many are wondering if the Ataribox is Atari’s way of replicating what Nintendo did with their NES Classic console. However, a key point to be noted is that Atari’s games are nearly 30 to 40 years old now. There is most likely a very limited market of consumers wanting to buy a console with such old games.

In fact, players will likely not be interested in buying a new Atari console, due to the fact that most of the classic games like "Pac-Man," "Missile Command," and "Breakout" are already available on the Xbox console for just $20.

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So, the question arises: Why is the company looking to launch the Ataribox in the current market?

Ataribox with PC technology

During a recent interview with GamesBeat, the Atari CEO mentioned that the company was indeed back in the hardware business. The last time that the company launched a gaming system was back in 1993 and it was the Atari Jaguar console. Chesnais revealed that the upcoming console will work with PC technology, but did not elaborate on what he meant by this.

He stated that the design and features of the console were still being finalized and that the company would reveal more about it at a later date. After the company's bankruptcy filing in 2013, Chesnais bought the company. Since then, it has generated profit, but has been limited to mobile games. #Gaming console