Though the details and specs of the next generation XBox have only recently come to light, Sony is confident that their next console, codenamed the Orbis, will be on shelves and in homes well before Christmas 2013, when the XBox 720 is pegged for release. According to a spy at VG247 the designs and specs have existed for two years, and Sony are confident that they "have the jump on Microsoft this time".
Source: VG247
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