According to insider sources that are currently developing the parts for this console, Microsoft's Xbox 720 is set to be unveiled at E3 2013. That's not all, an "EA studio already has rudimentary new Xbox console technology in-house." Click here for more pictures of the concept above.
Many rumors about what gaming companies have been working on have also led to speculation that an Xbox 720 is in fact in development. For instance, Lionhead is supposedly working on a project named Fable NExt.[via Technabob]