The new Xbox will be simply called 'Xbox', will require an always-on internet connection, and will be revealed on 21st May, claims established tech blogger Paul Thurrott.
One of the most important of Thurrott's claims about the new console, is that it 'must be internet-connected to use', further fuelling speculation that the new Xbox will be an always-on device.
Thurrott also said that the new Xbox will feature a Blu-ray drive and will not support Xbox 360 games, adding that Microsoft was planning a secondary disc-less SKU for the new Xbox, but that has been scrapped.
One of the more worrying revelations was wth regards to the price. Thurrott said the new Xbox will be priced close to $500.
Microsoft was earlier rumoured to reveal the new console this month, but Thurrott claims that the reveal is now set to take place on 21st May.
Thurrott says that Microsoft will also release a new version of the Xbox 360, codenamed Stingray, for just $99 in the US. A similar pricing in India would give the console a welcome shot in the arm amid tough competition from the PS3.
Read the full story at our sister site MCV UK.
Sign up for the free MCV India newsletter here.