Microsoft (MSFT) Challenges Apple (AAPL)

Microsoft (NASDAQ: MSFT) CEO Steve Ballmer, unveiled a prototype of the much-talked about HP (NYSE: HPQ) Microsoft tablet at the Consumer electronics Show in Las Vegas. The move is largely seen as a preemptive strike against Apple's (NASDAQ: AAPL) iSlate.

However, the tablet was given less than 2 minutes of show time. Steve Ballmer did not give any details about the specs and the pricing of the tablet. Talking with CNBC's Jim Goldman, President of Microsoft's entertainment & Devices division, Robbie Bach said that the tablet is an important part of Microsoft's growing portfolio.

The company also gave a glimpse of its new device named 'Project Natal', which is expected to change the way consumers interact with their X-Box. The new device is likely to be released in the market shortly.