New reports have surfaced about the expected launch date of Microsoft's rumored Xbox 720 coming in 2013.

Video game website Develop had several sources relate to them to that the console could arrive at the E3 gaming expo in June 2013.

News has even leaked pointing to the system's launch title. Lionhead Studios is said to be working on another addition to the Fable series, codenamed "Fable Next."

Develop also noted that Microsoft is likely to focus more on the Xbox 360, Kinect and Windows Phone for the next two holiday seasons before pushing the next console in 2013.

Design director for Epic Games Cliff Blezsinzki gave his opinion on Microsoft's next system: "I'm sorry, do you think graphics are good enough? No they're not! The Xbox 360 is great, we've pushed it further than we ever have with Gears of War 3, but I want Avatar in real-time and beyond, I want fully realistic CG, and are we there? Absolutely not. I think there's absolutely room for improvement."

Blezsinzki also said, "Do graphics make gameplay? No. But when I fire up my projector back at my house, put Avatar on - it still makes your jaw drop, it's like a giant portal to another planet. I think we still have a long way to go before we get there, and I want us to get there."

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DICE general manager Karl Magnus Troedsson stated his thoughts on the next console generation: "The Xbox 360 and PS3 are still powerful machines, and we haven't seen the end of this console cycle, but when we do see the end of this cycle, we need a big step forward."

Microsoft recently teased fans by advertising its next generation gaming console, the Xbox 720, in the trailer for the new film "Real Steel."

The new movie featured Hugh Jackman and gamers immediately spotted the ad for the new system after it debuted. Real Steel came out on Oct. 7 and the Xbox 720 ad shows up about 40 seconds into the trailer.