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The console is expected to cost roughly $500, and will simply be called "Xbox". There is also supposed to be a less expensive model for around $300, but you will have to pay a subscription for that.
Other reports have suggested that this new console must always be powered on and connected to the Internet for it to work properly.
Regarding the console's rumoured "always-online" component, Thurrot reiterated what we knew already - that previous Microsoft design documents have mentioned the feature.
"Looking at some of the stuff I got a long time ago, it actually says 'must be internet-connected to use' in the notes," Thurrot claimed. "And that's all I have, but it does say that."
Recently-leaked internal documentation dated to last year referenced the console's "always on, always connected" design.
Microsoft was coy in its apology for comments made by senior employee Adam Orth last week that appeared to support an "always on" console. The company's statement was careful to apologise for Orth's poorly chosen words while steering clear of addressing the subject in general.Are you an Xbox fan? Are you excited to hear about the next version of Xbox? What are your thoughts about the always on, always connected issue? Let us know in the comments.