THE BUZZ: Microsoft is apparently targeting a Christmas 2013 release for the Xbox 720, with a reveal to occur at E3 2013, according to a number of industry sources.

Industry site Develop claims that Microsoft already has several next generation projects underway including the next Fable game, code-named ”Fable Next.”

“Multiple sources across the industry, from processor chip manufacturers to middleware firms, have told Develop they expect the console to be fully unveiled at E3 2013, months before its release. The collection of data points to a 2013 launch for the system across all main regions, though early 2014 remains a possibility,” says the site.

EGM’s TAKE: This is all just rumor and speculation at the moment and nothing concrete has been confirmed by Microsoft. Still, the time frame does fit in with the general industry plan for the next generation.

Would you be happy waiting until late 2013 to get your hands on the next console? Leave your thoughts below.

Source: Develop