Xbox 720 in stores by Christmas 2013Reportedly, the new Xbox 720 should be available in stores by Christmas 2013. According to Bloomberg, Microsoft aims to launch their new Xbox before Thanksgiving next year, in time for the holidays shopping.

Bloomberg sources revealed that Microsoft plans to unveil their new product either during the E3 show next June, or as part of a separate event dedicated solely to the console. David Dennis, the Microsoft Xbox spokesman, refused to comment on the validity of this information.

Microsoft has no official statement out regarding any details about a next-generation Xbox. However, reports from sources such as the Xbox World show that the 720 will include several new features, such as the Kinect 2.0, a Blu-ray drive, an enhanced controller and a A/V port that enables watching and recording broadcast shows.

Recent data from NPD shows that the Xbox 360 was the top seller console during October, for the 15th month in a row, with 270,000 Xbox 360 units sold. During this year’s Black Friday sales week, Microsoft sold over 750,000 Xbox 360 consoles, exceeding the company’s own forecast.

Yet, the global decrease in video games related products sells hasn’t left Microsoft untouched. The Xbox 360 showed a steady monthly decline in sales, in the United States as well as around the world. This year, so far, the company sold only a little over 4 million consoles worldwide.

Microsoft sales are also influenced by the growing competition determined by another major industry player. Sony recently officially stated that their PlayStation 3 sold over 70 million consoles worldwide ever since it was launched in 2006. Microsoft has a record of 70 million Xbox sold since the launch of the 360 as well, only their product was on the market for one year longer than the PlayStation 3.