You might just be getting your hands on Nintendo's new Wii U - but we have some exciting console news for you too.

According to a report in Bloomberg credited to "people familiar with the matter", Microsoft's next Xbox will be out by Christmas 2013.

The new machine - rumoured to be built around impressive hardware specs including up to 8GB of Ram and eight core processors - will be released around Thanksgiving in the United States.

It is also suspected to come with a 2.0 upgrade to its Kinect motion tracking camera, and possibly Blu-Ray and augmented reality glasses.

Clearly it's not possible to confirm the news - and Microsoft is staying quiet for now. But when it's finally announced - either at a dedicated event or an industry show like E3 - we'll be there to bring you the news.

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