A games developer has said that the successor to Microsoft's Xbox 360 console is expected to be disclosed at E3 2012. It has also claimed that of has been working on one of the first titles.
On the other hand it was stated by a senior source at Crytek to Videogamer. com that TimeSplitters 4 has been using Microsoft’s updated DX11 development tool and it is developed for the next-generation console.
The Crysis 2 developer has stated that soon there will be announcement done by the Microsoft regarding the existence of a new Xbox. It will announce within the next 12 months, with the reveal of an E3 2012 soon.
According to the sources, till now no console specs have been confirmed. A hugely positive effect on the visuals has been pointed by DX11. It comprises in it tessellation, multi-threaded rendering along with the computation shaders.
While it was revealed by the Crytek source that Microsoft is expected to launch the new Xbox prior to PlayStation 4, while rumours are there that Sony is investing heavily in next-gen development.