The next Xbox will be released in late October or early November of 2013, according to IGN. Sources "close to the project" have indicated that mass production of the console's GPU, which will be based on the Radeon HD 6670, will begin by the end of this year.

If correct, the new Xbox will have six times the processing power of the Xbox 360 and 20 percent more than current version of the Wii U.

The Radeon HD 6670 supports 3D, 1080p resolution and multi-screen output, indicating that all of those features may be present in the upcoming console as well.

Lastly, the report stated that developers will begin receiving development kits for the new console beginning this August.

There have been a lot of contrdictory reports being thrown around about next-gen consoles. Does this sound right to you? Let us know what you think in the comments!

[Via IGN]