Online sources are reporting that Microsoft is planning to launch their next generation Xbox gaming console before the start of holiday season next year.

This console could be showcased at the next year’s E3 gaming expo. Microsoft could of course hold an independent event later in the year closer to the launch.

Microsoft has of course not commented on these reports.

Reports claim that the next Xbox console would feature a quad core processor with 8GB RAM and a Blu-Ray drive. It should feature a redesigned controller and of course the next generation Kinect tech as well.

Microsoft is also expected to launch a Xbox branded set top box that could be similar in nature to Google TV and Apple TV.