Following reports from Develop and Eurogamer, BGR has claimed a “source with knowledge of Microsoft’s plans within the company’s Entertainment and Devices Division” has confirmed Microsoft’s intentions to reveal the successor to the Xbox 360 at E3 2012.
The console has been in development since 2006, according to the source.
Prior reports have claimed EA has the console in-office, and that developer Crytek is crafting TimeSplitters 4 for the platform. One would believe Microsoft has good relations with Crytek due to the creation of Ryse, an upcoming Kinect-exclusive, Microsoft-published fighter in development at the studio.
To date, Xbox 360 has sold over 54.4 million units since its launch in November 2005.