Xbox 720: No Next Gen Unveiling at E3 2012
If you are an Xbox 360 player who have been pining for the next stage in the evolution of your favorite game console, you might want to sit down for this news. There will be no Xbox 720 announcement at E3 this year.
Flying in the face of the persistent rumors and swarm of outright speculation (mostly wishful thinking) regarding the possibility of a new next-generation Xbox console being announced at E3, Microsoft has put an ax to the wishful thinking and rumors: there will be no new xbox hardware. In a statement sent to the video game magazine, Game Informer, Ryan James, Microsoft Studios’ Group PR Manager, torched many a console fan’s heart with the statement that “there will be no talk of new xbox hardware at E3 or anytime soon”. It was bad enough that there’s no talk about new hardware at E3. That’s understandable. But what made it specially painful was when he rounded off the statement with the phrase “or anytime soon”. Bummer.
According to James, 2012 has been the best year ever for the Xbox 360. The console has outsold all other console off all makes. While this is true, Microsoft should listen to its user base, as the PC’s processor and graphic capabilities continue to leapfrog consoles, it is a hard fact that the development cycle for the current generation of consoles is now longer than previous cycles.

Anyway, this will only fan the flames of new console rumors for a long time to come.