Its no secret that Microsoft is working on the next Xbox console covertly at its Redmond offices. According to reports, Microsoft is planning on launching the Xbox 720 holiday next year.
According to Bloomberg, sources close to the matter have confirmed that Microsoft is planning on releasing its next gen Xbox console in time for the holiday season. The device will be on sale during Thanksgiving and Christmas but it is not clear when Microsoft will make the announcement. Sources reveal Microsoft is contemplating between an E3 announcement and a separate event dedicated to the console.
Earlier this year there were rumors that Microsoft was facing manufacturing problems with the chip that would power the next Xbox console. The next Xbox is speculated to have Kinect 2.0, which is suppose to be two cameras, Blu-ray disc drive and TV output/input so that it can be used as a DVR-like device.