Rumors say that Microsoft will announce the next Xbox on the 21st of May this year. At that date the company will organize an event on which it will announce its latest game console. The rumor originates from The Verge and Winsupersite. The event was first planned for this month but for an unknown reason has been delayed.
After Microsoft's own event, the company will likely show the console during the E3 game conference. Later this year the device should become available for sale. Both The Verge and Winsupersite have a track record of being well informed about Microsoft and its plans.
There are many speculations about the next Xbox, codenamed Durango. It's likely that the device will require a working internet connection, games don't play from discs and the Xbox Durango should come with a new version of Kinect. The console should become available before the holiday season of 2013.
Sony also used their own event to announce the Playstation 4. More large companies use own events to announce (flagship) devices, previously they did this during large exhibitions such as CeBIT and CES.
