Microsoft will introduce its next generation gaming console, Xbox 720, at a launch event on 21 May 2013 at its Redmond campus in the US.
Xbox Live Programming director Major Nelson said the Tuesday May 21st will be the beginning of a new generation of games, TV and entertainment.
"On that day, we’ll be holding a special press event on the Xbox campus and we invite you to join us via the live global stream that will be available on Xbox LIVE and Xbox.com," Nelson said.
Being launched three months following Sony’s launch of its forthcoming PlayStation 4 gaming console, the successor to Xbox 360 is anticipated to be powered by AMD system-on-a-chip that incorporates Jaguar central processing units with graphics chip.
Game developers can now easily develop gaming titles that they had earlier developed for PCs and mobile devices for the next Xbox, the company said.
In addition, the device features an eight-core processor, an 8GB of system memory, 800MHz graphics processor in addition to a Blu-ray drive.
The new device is also expected to support a range of payment methods for content, such as in-game micro-transactions and subscription services that allow accessing a range of content for a monthly fee.
Microsoft has recently trialled an offer by reducing the cost of its hardware to new US customers if they sign up for a Gold Xbox Live account.
Additionally, the software giant is planning to push the new console as an all-in-one living room solution that offers streaming video, television and music services in addition to social media.
