Move over Xbox, the big game-changers have figured out something more fun: the FunBox.

The new device, courtesy of ZTE and The9, is a TV set-top box and game platform rolled into one.

FunBox, which was launched on Wednesday, is "the world's fastest home entertainment console, bringing consumers and families a unique high-performance all-in-one gaming, video-chatting and online video experience," said ZTE on its website.

Like Us on Facebook

The revolutionary gaming console is expected to shake up the home entertainment landscape with its Tegra4 processor by NVidia, a high-performing 72-core GeForce graphics processor.

Add to that processor power ZTE's telecommunications technology and you have a device capable of giving support to video chats using a smart television - a first of its kind in the home entertainment industry.

"The home console market is set to be one of the most-focused markets for developers," said Pang Yiming of Analysys International.

The joint venture between China's telecom leader and the expert gadget maker also gave birth to a business unit called ZTE9.

ZTE9 plans to sell the FunBox at 689 yuan (US$110) starting April, initially in China and eventually overseas.

Gaming enthusiasts and industry watchers forecast that FunBox will easily beat the popularity gained by Xbox and PlayStation.

"ZTE has been eyeing China's gaming and entertainment market for a long time," said ZTE executive vice president Zeng Xuezhong.

China has almost 5 million video gamers and the gaming market's revenue had exceeded 83 billlion yuan as of 2013.