A next generation Xbox (Xbox 3? Xbox 720?) could be on course for a June 2012 launch if reports circulating in the games industry prove accurate.

VideoGamer.com has stated that an E3 announcement next year is likely after Crytek apparently admitted that it is developing a new TimeSplitters game for the console.

The report even states that Crytek is already demoing the TimeSplitters 4 title in-house (with a private video purportedly doing the E3 2011 circuit), with a "high ranking industry source" at the company saying that Microsoft's DirectX 11 is the current basis for the next-generation development.

This means super sharp graphics due to the tessellation effect tech on board the platform. The VideoGamer source said the graphics on the TimeSplitters title are "noticeably improved" over current-gen consoles.

If the report rings any truth then it is likely that Microsoft will be pipping rival Sony to the eight-generation console post - although following the Wii U revelation at E3 this month, Nintendo still looks on course to be the front runner in this respect.

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