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Currently the industry is in the seventh generation of console hardware. There are three main competing consoles: The Nintendo Wii, Microsoft Xbox 360, and the Sony Playstation 3.
Microsoft's Xbox 360 was released on November 22, 2005.
Sony PlayStation 3 released on November 11, 2006.
The Nintendo Wii was released on November 19, 2006.
The Wii was relased last so that would make it the "newest" video game console.
Source: http://en.wikipedia.org/wiki/Seventh_generation_console
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