Microsoft was supposed to billed an Amazon killer. Reuters

Speculations on the release date of Microsoft's next generation gaming console, Xbox 720 (not official name) has been doing the rounds for quite a while now, and the latest we hear is that it would be revealed at the upcoming E3 event in June and hit the stores a few months later.

E3 is an annual world's premier trade show for computer and video games, and it will be held from 11-13 June at the Los Angeles Convention Center this year.

"Given the fragile state of the console game market, we expect the E3 trade show in June will take on added significance, most likely providing the industry with the first public opportunity to examine next-generation hardware," Colin Sebastian, a senior equity research analyst at Baird, had earlier said.

Now, speculations are rife that Xbox 720 would be released in November, a month after the rumoured release date of Sony's PlayStation 4 (PS4). Several sections of the media have also reported that the gaming console could be available in December, during Christmas time.

Microsoft has until now neither revealed the name of the next-generation gaming console nor its release date.

Xbox 720 Rumoured Specifications:

CPU: AMD Jaguar-based CPU clocked at 1.6GHz

GPU: AMD's 7000 series graphics engine or AMD Radeon 7790 chip

Memory: 8GB RAM and separate graphics memory

Connectivity: 1080p 3D support, Blu-ray player and DVR functionality

J. Paul Raines, chief executive of video games retailer GameStop had earlier described Microsoft's next-generation gaming console as "compelling".

"We've been spending a lot of time with Microsoft, but we have to let them take the lead on this, but it will be a very hot, compelling device. They are doing some really cool stuff, and I'm eager to hear them start their announcements because I think the world is going to stand up and take notice," Raines had told GamesIndustry International. 

The price of Micrpsoft Xbox 720 is expected to be around $299 (₹16,274).