Microsoft's next games console - most popularly known as the Xbox 720 - will be out for the holiday season 2013, say sources "familiar with the company's plans".

It has long been rumoured that the new machine, which has also gone by the codename Durango in the past, will be launched at E3 2013 in Los Angeles in June, and this latest addition to the speculation fits in with that assumption.

If launched in the summer, it would be a natural fit for a Christmas release. However, the sources claim - to news site Bloomberg - that Microsoft is yet to decide whether it wants to officially announce the console at E3 or during its own special event.

The Xbox 360 was first unveiled in May 2005 on MTV, for example, and it was released in November the same year. There's no reason to think the Xbox 720 will be on a different time scale.

Nintendo operated differently with the Wii U, having shown a development model at E3 a full year before the launch, and a year-and-a-half before its release (today, 30 November in the UK). But that's not generally the case with Microsoft.