For the now, the app is the same as before, only with a new name. It includes a Friends list and provides information on upcoming events, recently played games, and a bunch of other stuff. There is also an activity feed. As far as we can tell, the rebranded Xbox Console Companion functions exactly as it did before Microsoft renamed it.
That will not always be the case, however. When firing up the updated app, there is a message that says Microsoft is working on "a new desktop experience."
"Pardon our dust. This app is being renamed to Xbox Console Companion to be a dedicated app for your Xbox console's features and settings. A new desktop experience is coming soon!," the message reads.
One thing that had already changed a couple weeks ago is the removal of group messaging support. Microsoft said at the time that it removed the feature so it could "focus on console settings and simplify our apps."
"But rest assured a desktop solution for group messaging is coming soon so be sure to update Windows to get the newest Xbox apps and experiences when they become available," Microsoft added.
It's not entirely clear how the app will change as a whole, and what exactly the new desktop experience will offer. The app's standout feature—the ability to stream from an Xbox One console—remains, at least for now. Some had surmised that the Xbox app would be axed in favor of the redesigned Xbox Game Bar, but apparently Microsoft has other plans.
We will likely learn more at E3, which runs from June 11-13. Ahead of the event, Microsoft is planning an Xbox briefing on Sunday, June 9, at 1:00 pm PT (4:00 pm ET).