Microsoft will launch the next version of the Xbox, commonlyknown as the Xbox 720, in 2013 at the earliest reports Bloomberg who cites two people close to Microsoft' plans.
The news outlet recoks that the console may be showcased in June 2013 at the E3 conference and offered on sale later in the year, possibly in time for the Holidays season.
Microsoft has just celebrated the 10th anniversary of the Xbox franchise, one which saw tens of millions of consoles being shipped worldwide already.
Sales of the Xbox 360 have improved markedly after the launch of the Kinect, Microsoft's motion sensor peripheral, which is one of the best selling electronics accessories of all time.
The console surpassed the Nintendo Wii and the Sony PS3 in 2011 and sold more than any other TV-connected devices according to a Microsoft's spokesperson.
Another reason why Microsoft could been keen on keeping the Xbox 360 on retailers' shelves is that it still makes money on the Xbox 360 as improved manufacturing processes and better stock management, and zero R&D investment pushes profit margins up.
Sony has already announced a new gaming console, albeit a portable one, the PS Vita in February and Nintendo will launch its Wii U gaming console later this year.
Source : Bloomberg