Don't expect the next Xbox console to arrive until 2020.
Microsoft is planning to launch its next-generation Xbox in two years, according to Thurrott.com. It is reportedly developing a “family of devices”, in fact, with the codename Scarlett. Keep in mind Xbox chief Phil Spencer revealed earlier this week that Microsoft is “deep into architecturing the next Xbox consoles", so it shouldn't be too surprising to learn that Microsoft is working on more than one console.
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However, we're not sure what form they could take or how they would differ. Microsoft could be developing streaming devices, since it's also hard at work on a new game streaming service. A couple years ago, Microsoft was rumoured to be prepping “Xbox TV” devices, which were originally meant to be $99 streaming sticks to access Xbox One games from a second TV in a house, but that never happened.
Honestly, Microsoft hasn’t officially announced its next Xbox plans, and it's far too early to speculate. Nevertheless, we will keep you posted.