The Xbox 720 release date

According to a "high-ranking source at Crytek," the successor to Microsoft's Xbox 360 console is likely to be unveiled at E3 2012 - Microsoft has already denied this, which just goes to show how trustworthy even 'reliable sources' can be.

Microsoft has said publically that the Xbox 360 will have (at least) a 10-year life lifespan to match the PS3. That puts a new Xbox launch into 2015… However, we reckon it's far more likely that the console will launch either in 2014 or maybe even in time for Christmas 2013.

Bethesda's Todd Howard, game director for Elder Scrolls V: Skyrim, says that gamers should not expect follow-ups to the PS3 and Xbox 360 until 2014, at the very earliest.

Speaking to PSM3 magazine, the Bethesda exec said that gamers were happy with the current generation of console tech and that he didn't expect to see an Xbox 720 or a PlayStation 4 before 2014.

But of course, it goes without saying that neither Microsoft nor Sony will want to launch their new consoles after the other. The 360 stole a huge march on the PS3 by launching a year earlier and so it seems a safe bet that both consoles will arrive well before the 10-year life cycle of the Xbox 360 and PS3 are up.

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