Microsoft has named the next version of its operating system "WindowsVista."

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NEW YORK (CNN/Money) - Microsoft announced Friday that it will call its next-generation operating system "WindowsVista."

The much-anticipated operating system had formerly been code-named "Longhorn."

Microsoft has promised that the new system, which is scheduled to be released in late 2006, will have several improvements, including better security features, more comprehensive search capabilities and a friendlier user interface.

Licenses for operating systems and related software still account for the majority of the Redmond, Wash.-based software giant's sales and operating profits.

The next version of Windows finally has an official name: Windows Vista.
The advertising tagline for Vista is "Clear, Confident, Connected: Bringing clarity to your world," according to a video of the announcement posted by Microsoft.

The company also said Friday that the first beta, or test release, of Vista is slated for release on Aug. 3. That release will be targeted at developers and IT professionals, said Brad Goldberg, a Microsoft product manager. A second test release will likely debut ahead of Vista's final release in the second half of next year, the company said.

Microsoft is also planning to begin testing a server version of the operating system later this year. The company hasn't decided whether that release will also ship under the Vista moniker, said Goldberg.

Vista's three design goals include better security, new ways to organize information, and seamless connectivity to external devices, the company said. Microsoft will provide more detail on Vista features Aug. 3, Goldberg said.

The software giant first announced plans for Longhorn in 2001. It was originally expected to debut in 2004. The company has since revamped the feature list and launch date several times.

Microsoft has also registered the domain name windowsvista.us.

Vista is a change in direction for microsoft, originally called Longhorn. Bringing clarity to your world. Today we live in a world of more information, more ways to communicate, more things to do. There is more you can do and even more you can discover. Every day, millions of people around the globe rely on their Windows PC to manage their increasingly digital lives. While familiar tools for managing digital information are powerful, today's world requires more. In today's digital world, you want the PC to adapt to you, so you can cut through the clutter and focus on what's important to you. Introducing Windows Vista(TM) It enables a new level of confidence in your PC and in your ability to get the most out of it. It introduces clear ways to organize and use information the way you want to use it. It seamlessly connects you to information, people, and devices that help you get the most out of life.