Or at least that is how it is being portrayed, but in fact Microsoft’s "Wireless Display Adapter" is more like a screen mirroring device. It is based on Miracast and will cost $60 dollars.
Microsoft also has a TV dongle
We had heard the rumors and here it is with the generic name "Wireless Display Adapter". The idea is that you can push photos, video and apps from your smartphone, PC or tablet to the big living room TV.
Microsoft is using Miracast technology to enable it, which means it will support select Windows and Android devices. Miracast works by turning everything on your mobile screen into a video stream that is then transmitted to your TV. This is different than how Chromecast and Apple Airplay works as these solutions simply send a command that allows for example a Netflix stream to be taken over by the Chromecast or Apple TV.
The disadvantage of Miracast is that video often gets choppy if there are other signals in the vicinity, and that it is a battery drainer on your phone. The advantage is that you can bring the small TV dongle anywhere – at home and abroad – as it relies on its own WiFi Direct network.
Microsoft’s dongle needs one HDMI port on your TV and one USB port for power. When connected, a small icon on your phone or tablet will appear to let you push the action to the big screen.
Microsoft is selling the dongle for $60 dollars, which seems a bit steep as it is basically just a generic Miracast receiver, which is available for less without the Microsoft logo.