Five years after the release of the `Halo 3' title - which raked up a whopping $170 million in its debut-day sales in 2007 -, Microsoft is now set to launch the `Halo 4' game --- the first title to be released by the software company's homespun 343 Industries studio.

The `Halo 4' title, for players aged 17 and above, will be priced at $60; and will be the first game in the last five years to move on the story of the famous alien-fighting pair --- the franchise's hero Master Chief, and Cortana.

`Halo 4' has been developed by 343 Industries, the studio which Microsoft created after the original Halo developer Bungie - which developed the five previous Halo titles, from Halo: Combat Evolved in 2001 to Halo: Reach in 2010 - announced its decision to split. The game reportedly represents Microsoft's multimillion-dollar investment in its 7-year-old Xbox 360 video gaming console.

About the `Halo' 4 launch, Microsoft said in a Monday press release that it intends making launch-event of the title the biggest entertainment premier of the year; spectacular enough to be compared to the premiere of any Hollywood film.

Revealing that `Halo 4' is Microsoft's biggest title ever, Phil Spencer - Microsoft's Corporate VP who oversees Microsoft Studios' game development - said during an interview with USA TODAY's Mike Snider: "Halo is really two games. We are going to build a great single-player experience for the fans that love that kind of game."