After months and months of wait, Microsoft finally announced yesterday the date on which it will unveil next generation Xbox. The announcement is scheduled for the 21st of May at the company’s headquarter in Redmond, Washington. While Microsoft did not say anything about pricing, the next generation Xbox will reportedly come with a price tag of $499. If customers opt for a $10 per month two year Xbox Live Gold subscription, the price will come down to $299.

The rumor of next Xbox requiring always on internet connection surfaces again today, Microsoft has not yet clarified whether that is indeed the case with its upcoming console. It is also reported that the next Xbox runs on an OS that is based on Windows 8, this would provide developers with a common platform for developing apps that will run on a variety of devices, including PC and tablets. Microsoft mentioned in the invite yesterday that it will fully unveil the next Xbox at E3 conference, which takes place in June. As far as the launch is concerned, the new Xbox is reportedly going to be available for purchase in November, 2013.

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