After months of rumors, Microsoft has finally confirmed the existence of Zune, the project that will spawn products to compete with the iPod and iTunes.

Execs over at Microsoft announced they will be launching the Zune brand later this year. Like the rumors were saying the first products from this brand will be a portable audio player and a digital music service. The exprected release date plans to be by the end of 2006. The company also confirmed the rumored Wi-Fi connectivity features.

Furthermore, Microsoft has launched a couple of websites to start the buzz going. Go check out "Coming Zune" website and the "Zune Insider" blog. The company also said the launch will be a massive campaign that will include live performances worldwide. Hmmmmm... I wonder if David Hasselhoff will be performing.

-iamsiam