Microsoft is reportedly developing two new Xbox consoles that will launch around this time next year, and one of them will be more affordable.
According to The Verge, Microsoft is currently working on a "cheaper and less powerful" Xbox, codenamed Lockhart. This upcoming console will be separate from Microsoft's Xbox Project Scarlett, a more high-end console that the company has already discussed. It's codenamed Anaconda.
Microsoft has yet to confirm it will launch two new consoles around holiday 2020, but Windows Central first mentioned Lockhart a year ago, and Kotaku has said it believes Lockhart will be part of Microsoft’s next-generation console roadmap. Supposedly, Lockhart and Anaconda should follow the Xbox One S and Xbox One X, respectively. But Lockhart will reportedly ditch the disc drive, just like the Xbox One All-Digital Edition did.
Microsoft has been talking to game developers on its next-generation consoles in recent months. As a result, ahead of this past year's E3, there were rumours Lockhart had been scrapped. However, it appears to be back on the board again, even though Microsoft still hasn’t locked down the official specs for it yet. Currently, Microsoft just wants it to be less powerful than Anaconda, which The Verge described as "the true next-gen leap".
Anaconda could offer 10 teraflops of graphical power, while Lockhart will have 4 teraflops of graphical power. Kotaku said Lockhart will include a solid state drive, and it will be designed for 1440p gaming rather than the 4K gaming. Anaconda, on the other hand, will support 4K. Lockhart will also get a next-gen CPU, which will be clocked slower than the Anaconda's CPU.
Other than all that, it's not clear how the two will differ.